Private Equity Raises – Fidelio Capital Raises Over €1bn for Third Flagship Fund – Private Equity News
Fidelio Capital, a private equity firm focused on the European market, has raised over €1bn for its third flagship fund. The fund, which is called Fidelio Capital III, was oversubscribed and received commitments from a range of institutional investors, including pension funds, insurance companies, and family offices.
Fidelio Capital was founded in 2011 by Jean-Charles de la Verpillière and Pierre-Antoine Dufour. The firm has a team of experienced investment professionals with a proven track record of success. Fidelio Capital’s investment strategy is to invest in mid-market companies in the European market. The firm typically invests in companies with enterprise values of €100m to €500m.
Fidelio Capital’s third flagship fund will be used to invest in a range of industries, including healthcare, industrials, and technology. The firm is targeting companies with strong management teams and growth potential.
The fundraising for Fidelio Capital III is a sign of confidence in the European private equity market. The European market has been growing in recent years, and there is a strong demand for private equity investments. Fidelio Capital’s third flagship fund is a testament to the firm’s track record and the quality of its investment team.
Here are some additional details about Fidelio Capital III:
- Target size: €1bn
- Oversubscribed: Yes
- Investors: Pension funds, insurance companies, family offices
- Investment strategy: Mid-market companies in the European market
- Target industries: Healthcare, industrials, technology
- Management team: Jean-Charles de la Verpillière, Pierre-Antoine Dufour
Fidelio Capital’s third flagship fund is a significant achievement for the firm. The fund’s size and oversubscription demonstrate the strong demand for private equity investments in the European market. Fidelio Capital is well-positioned to continue its success with this new fund.
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Fidelio Capital (“Fidelio”) marks a significant milestone with the successful closing of its latest investment mandate (“Fidelio III”), with total capital commitments in excess of the EUR 1 billion target, which is more than triple the size of its previous investment mandate (“Fidelio II”) raised in 2018. Fidelio has continued to build on its unique investor base of families, entrepreneurs and individuals, while expanding internationally to include family offices from the US and across Europe. The entrepreneurial spirit of the firm, and true alignment with its investors, is embodied by the team’s investment in Fidelio III of more than EUR 125 million.
The new investment mandate has already facilitated the completion of two add-on acquisitions in the US for the existing Fidelio platform investment Odevo, a tech-enabled residential property manager.
Founded in 2010 by Gabriel Fitzgerald, Fidelio has invested in twelve platform companies, along with more than 150 add-ons, scaling many of these from small local businesses into global leaders in their respective niche markets. Together with entrepreneurs, management teams and co-owners, Fidelio’s ambition is to build outstanding businesses without being limited by a pre-determined investment horizon or geographical border. This has resulted in market leading returns, with an average gross IRR of 80% since inception.
Fidelio’s team has grown significantly in recent years and in 2022 Fidelio opened an office in London, thereby expanding its presence across Europe as well as enabling increased access to opportunities outside of Europe. This has allowed Fidelio to further internationalise, having now invested in over twenty countries globally, with over 60% of revenues from its majority-owned businesses generated outside of the Nordics.
“We are thankful for the continued support we have received from our existing investors and grateful to the new investors who have placed their trust in us. Our flexible and long-term investment mandate enables us to drive transformative growth journeys in our portfolio companies, which we believe is a key reason for our outsized returns since we started back in 2010. The entire Fidelio team is excited to continue building on the success created over the past 13 years and we now look forward to working with our extended family of fellow investors”, says Gabriel Fitzgerald, Founder and CEO of Fidelio.
“We are incredibly proud to have retained the trust from our existing investors as well as broadened the geographical reach of our investor base, whilst maintaining the mix of families, individuals and entrepreneurs. Fidelio strongly believes in long-term partnerships and to be backed by entrepreneurial families supports our sourcing and investment strategy”, says Alexandra Björklund, CFO and Head of Investor Relations at Fidelio.
UBS Private Funds Group acted as global placement agent for the fundraise to Fidelio, with Proskauer Rose (UK) LLP acting as lead legal advisor and Advokatfirman Vinge KB acting as Swedish legal advisor.
About Fidelio
At Fidelio, we combine the professional and active ownership model of traditional private equity, with an entrepreneurial, flexible, and long-term approach to investing. Since inception in 2010, the team has invested in over 150 companies in 20+ countries – and our success is built from partnering with entrepreneurs, management teams and fellow co-owners to create global niche market leaders. Together we build outstanding businesses through the possibilities that come from not having a pre-determined investment horizon or geographical restrictions. In addition to the team at Fidelio, our capital is provided by a supportive group of successful entrepreneurs and families from Northern Europe and the US. Our previous and current investments include Vimian, Odevo, Hemfrid, AniCura and Lyko.
For more information, please visit: www.fideliocapital.com
