July 17, 2014 - Assignment

Altor completes successful fundraising for Fund IV

Altor has closed its fourth fund, Altor Fund IV, at its target and hard cap of EUR 2 billion.

Altor Fund IV will have its legal domicile in Sweden and is based on a Swedish AB-structure where the investors will invest through loan instruments (Sw. kapitalandelslån). The new fund will also be regulated as an AIFM entity (Alternative Investment Fund Manager) by the Swedish Financial Supervisory Authority. The investor base consists mainly of US university endowments, charitable foundations and pension funds. Nordic investors represent 20% of total commitments, with the remaining capital coming from the US, Europe, Middle East and Asia. Altor maintains its focus on developing mid-market companies in the Nordic region and the new fund will be focused on making investments in medium-sized Nordic companies with revenues typically in the region of EUR 50 to 500 million.

Since inception, the Altor funds have raised some EUR 5.8 billion in total commitments. The funds have invested in excess of more than EUR 3.1 billion in more than 40 companies. The aggregated turnover of the current portfolio companies is more than EUR 20 billion and the companies have more than 30 000 employees.

Mannheimer Swartling has been part of the team of advisors who have advised Altor in connection with the structure and set-up of Altor Fund IV.