18 May 2015

Carey Olsen advises Waterland on sixth fundraising

Waterland Private Equity Investments has closed Waterland Private Equity VI following a successful fund-raising after just three months in the market.

Carey Olsen advised the sixth fund for the Dutch private equity firm which has raised €1.55 billion in the short time frame. €1.25 billion sits within the fund (a Guernsey vehicle that invests into the Dutch fund) with the remaining €300 million in an overflow fund - also a Guernsey vehicle that invests into the Dutch overflow fund - that will be used when the principal vehicle reaches its concentration limits.

The Carey Olsen team of partner Ben Morgan, senior associate Ruth Abernethy and associate Alex Wilson, assisted the fund in the preparation of all the necessary Guernsey documentation for the structure.

Advocate Morgan said: "This fund has attracted attention due to the significant investment it was able to raise so quickly. A large part of that success was due to the preparatory work undertaken by the team. Our extensive experience with these types of funds enabled us to be a part of that success."

James Orrick, Managing Director of the Fund’s administrator Private Equity Administrators (PEA), “Waterland has enjoyed working with the same management team and administration professionals at PEA since the start of their relationship in 2008. We have expertly delivered an extensive due diligence sign-off programme to over 90 investors within one month together with a successful 3 day turnaround for the funds to be approved with the local regulator.”

Waterland backs mid-sized companies operating in the Benelux region as well as Germany, Austria, Switzerland and Poland. The fund has attracted commitments largely from pension funds in Europe, the United States, the Middle East and Asia Pacific.

Established in 1999, Waterland Private Equity Investments is an independent and experienced investment group that supports entrepreneurs in realising their growth ambitions. It has offices in The Netherlands, Belgium, Germany and Poland and currently manages € 4 billion of investor commitments.