Livonia Partners holds first close on second buy-out fund at double the size of first fund

Livonia Partners announces the first close for its second fund, KS Livonia Partners Fund II, at €147 million and near the hard cap.  The fund pledges to invest capital into companies and opportunities addressing climate change and environmental sustainability.

Livonia Partners Fund II is backed by a number of institutional investors across the Baltic and Nordic region including pension funds, IFIs, and family offices. All Fund I investors continued their commitments to Fund II, with Livonia also attracting a number of new investors.

Kristīne Bērziņa, Partner and Co-Founder of Livonia Partners, said: “We are proud to be backed by a diversified investor base which includes all of the existing investors along with new investors. We will continue fulfilling our ambition of growing companies through an active partnership approach, and making a positive environmental impact while generating outstanding returns.”

The second fund follows the same investment strategy as the first fund, with the Fund I portfolio seeing investments from buyout, to significant minority, to growth-stage companies. Livonia completed 16 investments and add-ons with its Fund I, creating a portfolio of successful Baltic and Nordic companies with over 2,000 employees and combined revenues of more than €250 million. Fund II will invest in successful companies in the Baltic region and beyond that show an enterprising spirit and a strong growth potential. The companies typically have an enterprise value in the range of €10 million to €100 million. The Livonia team actively partners with entrepreneurs and management with the resolve and ambition to be leaders in their industries and markets. Livonia will continue investing in spheres that have accelerated in the Baltics – TMT, manufacturing, and business and consumer services.

Fund II represents an important step in the evolution of Livonia’s strong belief in the need to have a positive impact on the environment and society. The fund pledges to invest at least 10% of capital into projects addressing climate change and environmental sustainability. Livonia is continuously building on its industry-leading ESG approach and its integration of ESG goals in the strategy, operations, and culture of all companies in the portfolio. Several portfolio companies have done extensive work in building sustainability and climate action into their businesses.

Livonia Partners Fund II was advised by the international law firm Ropes & Gray and the law firm Ellex Klaviņš.

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About Livonia Partners

Livonia Partners is a pan-Baltic private equity investment firm that is managing assets of EUR 230 million. The founding partners and managers of the firm are Kaido Veske, Kristīne Bērziņa, Rain Lõhmus, and Mindaugas Utkevičius. The Livonia team works across Estonia, Latvia, and Lithuania.

Fund investors are Baltic and Nordic pension funds, including Swedbank, the European Bank for Reconstruction and Development, the European Investment Fund (EIF) investing through the Baltic Innovation Fund 2 (an initiative created by cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania, and the EIF) and others.

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