NIB Capital Private Equity, the private equity unit of NIB Capital Bank, has revealed details of several recent commitments to European private equity funds.
The unit, one of the world’s largest private equity investors with E14.1bn under management, has committed a total of E210m to three European funds. The largest recent allocation was a E150m commitment to Permira Europe III, making NIB one of the largest investors in the fund, which last month held a first close at E3bn.
NIB, which aims to invest around 80 per cent in third party funds, with the remainder set aside for direct mid-market investments in the Benelux region, has also backed Swiss firm CapVis with a E35m commitment to CapVis II. CapVis held a final close in June, exceeding the original target of E300m to close on E340m.
NIB also announced a E25m commitment to the Altor 2003 Fund, one of the year’s most successful fundraising efforts. Altor Equity Partners, led by Harald Mix, one of the co-founders of Industri Kapital, managed to raise E650m within just four months of launching the fund.
NIB Capital’s direct investment unit recently completed a E115m management buyout of the specialty chemicals assets of UCB, a Belgian pharmaceuticals and chemicals business.
Of the firm’s E14bn under management, E11.5bn is allocated to its global fund investment scheme, focusing on Europe, the US and South East Asia across all stages, with a further E900m allocated to co-investments. The firm currently aims to make fund investments of between E1.5bn and E2bn annually.
A further E1.5bn is committed to its local market, encompassing the Benelux countries and Germany. NIB does not typically make fund investments in the Netherlands or Belgium, where it only makes direct investments.