Investor composition included:
- 41% from Europe
- 35% from the Americas
- 21% from Asia
- 3% from the Middle East
Public and private pension funds, asset managers, sovereign wealth funds, family offices, and financial institutions were among the fund’s supporters.
Leadership Commentary
“We are delighted to witness such strong demand for Evolution II from both existing and new investors. Their unwavering support is a testament to their confidence in Nordic Capital’s mid-market strategy,” said Joakim Lundvall, partner and co-head of the Evolution advisory team.
Lundvall emphasized the team’s expertise in business growth, underpinned by local market knowledge and sector-specific insights. He noted that the fund has already established a strong pipeline, securing investments with high-growth companies in niche markets.
Evolution II’s Record-Breaking Growth
Evolution II is 65% larger than its predecessor, Evolution I, which closed at €1.2 billion in 2021 after only three months of fundraising.
Kirkland & Ellis: A Key Advisor
Kirkland & Ellis LLP provided legal guidance on the fund. The team included:
- Investment Funds Partners: Amy Fox, Anand Damodaran, Andrea Renold, Agne Eriksson, and Alex Clarke
- Tax Partners: David Grenker, Alex Cox, Ian Ferreira, and Justin Barbosa
- Financial Services Regulatory Partners: Thomas Woodhead, Joshua Westerholm, Reed T. Schuster, and Deirdre Haugh
- ERISA Partner: Sabrina C. Glaser
