Altor raises €2.5bn

The Stockholm-headquartered private equity investment firm closes latest fund at hard-cap.

Altor Fund V held a first and final close at its hard-cap of €2.5 billion. The fund, which was substantially oversubscribed, invests in developing mid-market companies based in the Nordics and in the German-speaking DACH region.

A significant majority of the capital committed to the fund came from existing investors, at 93 percent. The investor base consists of university endowments, foundations, insurance companies and pension funds, based in the Nordics, DACH, the US, Europe and the Middle East.

The fund’s predecessor, Altor Fund IV, closed at €2 billion in July 2014. Investors in that fund included the University of Michigan, Elo Mutual Insurance Company, Cubera Private Equity and Pantheon.