Polaris I fully invested

Having committed E150m since raising its first fund in 1998, the Danish private equity house is currently mulling plans for a new fundraising campaign.

Polaris Private Equity, the Danish mid-market private equity manager, has made the concluding investment of its first private equity fund.

The purchase price for the transaction has not been disclosed, although Polaris targets companies with enterprise values between E15m and E200m. The acquisition of a 75 per cent stake in Danish family-owned vitamins and food supplements business Dansk Droge marks the firm’s seventh and final investment from the E150m vehicle which was raised in 1998.

Viggo Jensen, managing director of Polaris, said it was too early to be specific about what the company's plans would be going forward. Whether a new fundraising effort was going to be launched any time soon was a question the company and its board would be discussing over the summer, Jensen commented.

Polaris currently has six portfolio investments on its book, having exited an investment in Novasol-dansommer earlier this year by way of a trade sale to Cendant, a US travel and leisure group. According to Jensen, Polaris is currently looking at possible exit routes for some of its other investments as well.

When raising the first found four years ago, Polaris concentrated exclusively on its Danish home market. Investors backing the business include Danske Bank, A.P. Møller Group, Danica, Dansk Kapitalanlæg, PFA Pension and the Danish Labour Market Capital Pension Fund.