IK closes on €1.85bn

 The Pan-European private equity firm continues to target the mid-market.

IK VIII Fund has held a final close on €1.85 billion, surpassing its original target of €1.6 billion. The fund will continue IK Investment Partner’s strategy of making majority investments in companies with values of up to €500 million in Benelux, DACH, France and the Nordics.

Minnesota State Board of Investment, New York State Teachers' Retirement System, New York State Common Retirement Fund and ICG Enterprise Trust were among the new and existing investors in the vehicle.

IK VII Fund held a final close on €1.4 billion in October 2013, having initially targeted €1.7 billion.

Kirkland & Ellis LLP provided legal counsel to the fund.