Waterland Private Equity Investments has reached a final closing of Waterland Private Equity Fund III (WPEF III.) The new fund, launched in November 2005, has closed on €400m. The interest from both existing and new investors was better than expected and the fund was significantly oversubscribed.
Waterland Private Equity Investments (Waterland) had decided from the outset of the fundraising to cap the fund at €400m, as the team considered this to be the right size to continue to successfully implement its mid-market strategy.
WPEF III attracted a number of major new investors as well as strong support from existing investors. Existing investors were allocated the share of WPEF III they requested. Returning investors include, among others, ATP, JP Morgan and Delta Lloyd. New investors are BP Pension Fund, Rothschild and LGT Capital Partners.
WPEF III will make controlling investments in medium-sized companies in the Rheinland region (comprising The Netherlands, Belgium and Germany), with revenues between €10m and €150m.
MVision Private Equity Advisers acted as global placing agent and Ropes & Gray and Loyens & Loeff acted as legal counsel to Waterland.