Verdane Capital raises $365m

The Norwegian secondaries firm has reached a hard-cap on its debut buyout fund.

Verdane Capital held a final close for the Verdane Edda Fund at its SEK 3billion ($365.5 million; €297.4 million) hard-cap target.

It is the first direct buyout private equity fund launched by the firm. The firm has previously raised six direct secondaries vehicles, targeting portfolios of technology-enabled Nordic companies.

Verdane Edda Fund was launched in October 2017. 40 percent of the commitments, in value terms, have come from the Nordic investors; another 40 percent from the European LPs, comprising mostly UK and Swiss investors, and the remaining 20 percent has originated from the US.

Similar to the investment strategy of the secondaries vehicles, the firm will use the fund’s capital to make buyout investments in the TMT sector in the Nordic region.