Danske Private Equity Partners II [DPEP II] has announced a second closing of E78m following its first closing in February. The committed capital now totals approximately E427m. According to John Danielsen, managing partner at DPEP, the firm is still confident of reaching its overall fund target of E600m, with October now pencilled in for a final closing.
DPEP II is a fund of funds [FoF] looking to invest in unlisted companies through European and North American venture and buyout funds. DPEP II aims to invest in around 15 funds, with 50 per cent of investments earmarked for the US. Danielsen confirmed that the fund has to date attracted seven investors, comprising pension funds and insurance firms primarily within the Danish market.
The firm announced the first closing of E349m in February 2002, when it confirmed that it had received approximately E50m from parent company Danske Bank and Danske Bank Life Insurance.
Danske Private Equity Partners is part of Danske Private Equity, which also includes the venture funds Danske Venture Partners and Danske Life Science, focusing on investments in the IT and life science sectors respectively, in the Nordic region.