IK Investment Partners (“IK” or “the Firm”), a leading Pan-European private equity firm, is pleased to announce that it has closed its ninth Mid Cap fund, the IK IX Fund (“the Fund”), having reached its hard cap of €2.85 billion. IK’s previous Mid Cap fund, IK VIII, raised €1.85 billion in 2016.
The fundraise attracted significant interest from a high-quality institutional investor base across Europe (60%), North America (30%), Asia (7%) and South America (3%), with over a third of the money raised coming from new limited partners investing in IK funds for the first time.
Reflecting the operational strength of the Firm and its local market footprint with seven offices across Europe, the Fund will continue to invest across its core markets of the Nordics, the DACH region, France and the Benelux. The successful strategy of supporting growing and resilient Mid Cap businesses in the Business Services, Consumer / Food, Engineered Products and Healthcare sectors remains in place.
Christopher Masek, IK CEO, said: “We are grateful for the confidence of our investors in our active approach to transforming European mid-market companies through international reach and sharpened operational capacities. We are confident that the IK IX Fund is well positioned to leverage the strengths and experience acquired over 30 years in this new environment of change and opportunity.”
Mads Ryum Larsen, Head of IR and a Managing Partner, said: “We are delighted to welcome both new and existing investors to IK IX, our largest ever fund. With our expanded team and on-the-ground expertise in all the markets we operate, we have never been better placed to seek out opportunities and support attractive businesses across Europe.”
Kirkland & Ellis LLP acted as the legal counsel to the Fund.
About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, Benelux, and the UK. Since 1989, IK has nearly €13 billion of capital and invested in over 130 European companies. Across its strategies, IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com