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Industri Kapital 2007 Fund closes on €1.7bn16/10/2007. Source: AltAssets. 
 European mid-market private equity firm Industri Kapital has closed its sixth fund, the Industri Kapital 2007 Fund, with total commitments of €1.675bn, above its €1.25bn target. The fund was launched in February 2007 and held a first closing on about €1.25bn in May.
Mads Rymn Larsén, investor relations, Industri Kapital, told AltAssets that the fund was pretty much closed in June. The firm then had to wait for final approvals from a small number of investors.
Industri Kapital 2007 Fund will make majority investments in medium-sized companies in growing and mature industries in the Nordic region and Continental Europe.
Existing and new investors include endowments and pension funds, insurance companies and funds of funds located in the UK, Continental Europe, Scandinavia and North America. These include Pantheon Ventures, Standard Life, HarbourVest, bcIMC, Skandia, SVG, Partners Group, Länsförsäkringar, Varma, Metlife, NYSTRS, Tapiola and AIG.
Björn Savén, chairman and chief executive, Industri Kapital, said, 'We are very pleased with the high level of support we have received from our existing investors who have chosen to continue to invest with us, making it possible to allocate the Industri Kapital 2007 Fund in just three months. We are also grateful for the vote of confidence shown by the new investors who have joined our fund. We will remain focused on our strategy and firmly believe that this strategy will allow us to continue delivering strong returns to our investors. With the new fund, IK is well equipped to continue to play a leading role in the European private equity market.'
Industri Kapital, a European private equity firm with Nordic roots, focuses on investments in the Benelux region, Denmark, Finland, France, Germany, Norway and Sweden.
The firm closed its previous fund, the Industri Kapital 2004 Fund, on €825m.
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