Altor targets €2bn for Fund IV

The Swedish firm aims to raise the same amount as its 2008-vintage Fund III.

Altor Equity Partners, a Stockholm-headquartered firm, is currently raising its fourth buyout fund, Altor Fund IV, according to a source familiar with the process. 

The Texas County & District Retirement System (TCDRS) is considering committing to the fund, according to public records from the pension system.

Last year Altor Fund IV was listed as 'expected' to come to market in 2012, according to a Bloomberg newsletter. It was unclear at press time when the firm began fundraising.

Altor declined to comment. 

Fund IV is targeting €2 billion, the same amount of its predecessor fund, Altor Fund III, a 2008-vintage. Some of the LPs in Altor Fund III include Danske Private Equity, Pension Danmark, University of Michigan, Harvard Management Company and West Midlands Pension Fund, according to PEI’s Research and Analytics Division

Last month, Altor agreed to sell Nordic food caterer Euro Cater to Intermediate Capital Group (ICG) for €200 million. It had been a portfolio company from its €1.15 billion, 2006 vintage.  

Altor, which was established in 2003, invests in Nordic mid-market companies. Investors from both Europe and the US have committed a total of €3.8 billion to Altor in three funds, according to the firm’s website.