Waterland collects €1.55bn for latest fund

The Netherlands-based firm amassed €1.25bn for its Waterland Private Equity Fund VI as well as €300m for a separate vehicle

Waterland Private Equity Investments has collected €1.55 billion for its latest fund in just three months.

The firm closed its sixth institutional fund, Waterland Private Equity Fund VI at €1.25 billion and also raised €300 million for its WPEF VI Overflow Fund. The latter vehicle will be deployed for the larger deals.

The “strong support” of existing investors combined with “significant interest” from new investors, caused the fund to be “well oversubscribed”, Waterland said in a statement. MVision Private Equity Advisors supported Waterland with the fundraising.

The fundraising attracted commitments from institutional investors globally. Approximately 40 percent of the allocations came from Europe, while 40 percent came from the US. The remaining 20 percent came from Asia Pacific and the Middle East. Pension plans represent the largest proportion of the investor base, the firm said.

“We are very pleased with the quality and diversity of investors and are looking forward to making investments with our sixth fund, for which we see many attractive opportunities in our target region,” Frank Vlayen, managing principal, said in the statement.

WPEF VI will make control investments in medium¬ sized quality companies in fragmented growth markets in the target region consisting of Belgium, Luxembourg, the Netherlands, Germany, Austria, Switzerland and Poland to finance organic and acquisitive growth.

The vehicle is larger than Waterland’s Fund V, which was raised in 2011 in just five months, exceeding its €900 million target. The firm has gradually increased the size of its funds since raising €50 million for its debut vehicle in 2001. Waterland’s second fund closed on €170 million in 2004, while it collected €400 million for its third fund in 2006. For its fourth fund, the firm raised €800 million in 2008.