Waterland Closes Sixth PE Fund With €1.55B

Apr 16 2015 | 1:00pm ET

Waterland has closed its sixth private equity fund, raising a combined €1.55 billion between two related vehicles.

Netherlands-based Waterland raised €1.25 billion into Waterland Private Equity Fund VI and €300 million into an overflow fund, according to a press release.

The close comes just three months after the initial launch of the effort. Strong support was shown by existing as well as new investors as ones, with commitments coming from world-class institutional investors in Europe (40%), the United States (40%), Middle East (10%) and Asia Pacific (10%). Pension plans represent the largest proportion of the investor base.

The new fund intends to finance organic and acquisitive growth through control investments in medium-sized quality companies within fragmented growth markets in Belgium, Luxembourg, the Netherlands, Germany, Austria, Switzerland and Poland. 

The overflow fund will be deployed in situations in which the main fund comes up against concentration limits.

The strategy is a continuation of Waterland’s buy-and-build investment philosophy applied to prior funds over the last fifteen years. 

“The fundraising for Waterland Private Equity fund VI has been a great success, and we are grateful for the support of our investors. We are very pleased with the quality and diversity of the investors and are looking forward to make investments with our sixth fund, for which we see many attractive opportunities in our target region.” said Waterland managing principal Frank Vlayen in the release. 

MVision Private Equity Advisers acted as strategic fundraising adviser, and Clifford Chance as legal counsel.

Waterland, founded in 1999, is an independent private equity investment group which has invested in 57 platform companies and has made an additional 250 add-on acquisitions to expand those platforms. The company currently manages € 4 billion of investor commitments.

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