IK Investment Partners

IK Investment Partners (formerly known as Industri Kapital) is a European private equity firm, which primarily invests in the Nordic region, Benelux, France, DACH and the UK. The firm has raised a total of €13 billion in investor commitments. The firm primarily invests in Small and Mid Cap companies.

IK Investment Partners
TypePrivate Ownership,
Limited liability partnership
IndustryPrivate Equity
PredecessorIndustri Kapital
Founded1989 (1989)
HeadquartersLondon, United Kingdom
ProductsInvestments, private equity funds
Total assets€ 13 billion
Number of employees
130
Websitewww.ikinvest.com

The firm has its headquarters at the Adelphi in London, and additional offices in Amsterdam, Copenhagen, Hamburg, Luxembourg Paris and Stockholm. IK operates regional investment teams that cover Benelux, France, DACH, the Nordics and the UK .

History

IK Investment Partners was founded under the name Industri Kapital by Björn Savén and Kim Wahl.[1] The firm’s origins lie in Enskilda Ventures which in 1989 sponsored Björn Savén in raising the Scandinavian Acquisition Capital Fund (SAC) and established the London office. SAC closed with approximately €108 million in commitments mainly from Scandinavian investors.

In the year 1993 Industri Kapital became independent through the management buyout of SAC’s assets and activities from Skandinaviska Enskilda Banken, the parent of Enskilda Ventures. SAC’s was renamed the Industri Kapital 1989 fund.[2] In the same year the company established offices in Stockholm and Oslo.

Funds

Industri Kapital’s second fund, IK 1994, held its final closing with commitments totaling €250 million, broadening the investor base to include European and North American investors.

Logo used by the firm prior to its rebranding as IK Investment Partners

In 1997 Industri Kapital inaugurated its Hamburg office and closed its third fund, IK 1997, with commitments of €750 million. The year after the firm completed its first investment in Germany.

The fourth fund, IK 2000, closed with €2.1 billion in commitments in the year 2000. IK 2000 made its first investment in France. Three years later, in 2003 Industri Kapital began raising its fifth fund, IK 2004.[3][4] The firm struggled in the fundraising markets, requiring over two years to hold a final closing on the fund.[5] IK completed fundraising in 2005 with €825 million in commitments. The firm's Paris office was opened the year after.

In the year 2007 Industri Kapital closed its sixth fund, IK 2007, with commitments of €1.7 billion.[6]

In October 2013, IK closed its seventh fund with investor commitments of approximately €1.4 billion.[7]

In March 2016, IK closed its first small cap fund, IK Small Cap I, at its hard cap of €277m.[8] The fund allowed the firm to reclaim a segment in which they invested in the late 80s, early 90s.

Later the same year, IK also closed its 8th mid cap fund, the IK VIII Fund, at its hard cap of €1.85bn.[9]

IK continued to grow its small cap team through the IK Small Cap II Fund, which closed in February 2018 with total commitments of €550m (almost twice the size of its predecessor).[10]

The firm's latest mid cap fund, IK IX Fund, was closed in May 2020, at its hard cap of €2.85bn, making it the largest fund in the firm's history.[11]

References
  1. Industri Kapital appoints successors for chairman. Financial News, Jun 5, 2008
  2. Industri Kapital AB acquires Scandinavian Acquisition through a leveraged buyout. Thomson Financial Mergers & Acquisitions, May 19, 1993
  3. Pan-European buy-out firm Industri Kapital holds first close on E500m. AltAssets, Nov 11, 2003
  4. ndustri Kapital makes first investment out of 2003 fund into Swedish housebuilder. AltAssets, Dec 22, 2004
  5. Nordic Industri Kapital reportedly struggling to raise buy-out mega-fund. AltAssets, May 30, 2003
  6. Industri Kapital raises €1.68bn for sixth fund. Financial Times, October 16, 2007
  7. "IK VII Fund holds final close at €1.4bn". Unquote. Retrieved 24 Oct 2013.
  8. "IK hits €277m hard-cap on debut small cap fund". Retrieved 23 Mar 2016.
  9. "IK closes on €1.85bn". Retrieved 28 Nov 2016.
  10. "IK taps re-ups for 'substantially oversubscribed' Small Cap II". Retrieved 22 Feb 2018.
  11. "IK Investment closes Fund IX on €2.85bn hard-cap - exclusive". Retrieved 28 May 2020.
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