Triton Advisers Ltd., a private- equity firm that invests in Northern Europe, is seeking 2.4 billion euros ($3.1 billion) for its next fund that will focus on middle-market businesses in German-speaking and Nordic countries.
Triton Fund IV LP will invest in businesses with 50 million to 500 million euros in enterprise value, according to a private-placement memorandum, a copy of which was obtained by Bloomberg News. The firm targets industrial, business services and consumer companies.
The amount sought by Fund IV is similar to the 2.38 billion euros the prior fund raised in 2009. Fund III has exited three of its 13 investments, with realized deals returning 2.7 times invested capital, according to the memo. The firm’s second fund, from 2006, has produced a 20 percent net internal rate of return.
Mark Weston, who is responsible for investor relations at Triton, didn’t return a call seeking comment.
The new fund will charge a 2 percent management fee on capital of as much as 1.5 billion euros and 1.5 percent after that, according to the marketing document.
Triton has invested 2.9 billion euros in 40 investments since 1999. Of these, 20 investments have been fully or partially realized, producing 3.3 billion euros of value on 856 million euros of equity invested, according to the memorandum.
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