Monument Group Advises Altor in EUR 2,000 Million, Single Close Fund Raise
LONDON, 4 JULY 2014 – Monument Group, a leading independent alternative investment fund placement agent, has advised Altor in raising Altor Fund IV. After only three months in the market, Altor held a single close at its self-imposed hard cap of EUR 2,000 million.
The fund closed on July 3, 2014. “The fund was closed in less than three months, with demand levels as strong as anything we have seen in our 20 year history,” said Laurence Zage, Managing Director at Monument Group. “It is a real endorsement of Altor and of private equity in the Nordic region, from a sophisticated group of local and international investors, who tell us they regard Altor as trustworthy, transparent and one of the strongest performing managers in their portfolios globally.”
The investor base is comprised of primarily existing investors with a few select new investors. Nordic investors represent 20% of total commitments, with the remainder of commitments originating from US and other international investors.
“We are extremely proud of our relationship with Altor. This marks the fourth fund that Monument Group has assisted Altor in raising since 2003, and our history together provides Altor and its investors with the benefit of consistency of service from our team,” said Alicia Cooney, co-founder of Monument Group.
In total, Monument Group has helped Altor raise EUR 5,800 million for all of their funds: Altor 2003 Fund, Altor Fund II [2006], and Altor Fund III [2008]. On average, these previous funds have generated a 20% annual net return, placing them in the best performing quartile of private equity funds, according to Preqin, which gave Altor a global number one ranking for this achievement.
About Altor
Since inception, the Altor funds have closed on EUR 5,800 million of committed capital and invested in more than 40 companies. The focus has been to invest consistently in Nordic midcap companies with the aim of creating value through growth initiatives and operational improvements. Among current and past investments are Apotek Hjärtat, Carnegie, Lindorff, EWOS, Wrist Group, Dustin and Byggmax. www.altor.com
About Monument Group
Monument Group is a leading, independent private fund placement agent managed by a senior team with significant buy-side investment heritage. Since its inception in 1994, Monument Group has assisted clients around the world in raising 66 funds with 37 repeat clients, totaling over $75 billion of equity against an aggregate target of $72 billion. These clients represent a broad range of investment strategies including buyouts, debt, distressed, energy and natural resources, growth, infrastructure, and real estate. Monument Group has offices in Boston, London, Tokyo and Hong Kong.
