Waterland closes third mid-market fund

Waterland Private Equity Investments, a private equity firm that concentrates on consolidation strategies, has announced the final closing of Waterland Private Equity Fund III (WPEF III). The new fund, launched in November 2005, closed on €400m.

Waterland had decided from the outset of the fundraising to cap the fund at €400m, as this was considered the right size to implement its mid-market strategy.

Significantly oversubscribed, WPEF III attracted a number of major new investors as well as strong support from existing investors. Returning investors include, among others, ATP, JPMorgan and Delta Lloyd. Some notable new investors are BP Pension Fund, Rothschild and LGT Capital Partners.

WPEF III will make controlling investments in medium-sized companies in the Netherlands, Belgium and Germany with revenues between €10m and €150m and attractive for implementing a buy-and-build strategy.

Rob Thielen, managing principal of Waterland, said: “We set out at the beginning of the fundraising with the clear goal of supporting our existing investors and adding a select number of long-term, international investors. We are delighted to have achieved this goal within a very short period of time.

“Waterland’s proactive hands-on approach to value creation, combined with its ability to identify attractive industries and sectors, is key to our buy-and-build strategy and has clearly added to the raised interest from investors,” he said. “Now, our team will

focus on the next phase of the challenge – making the right investments.”