Aztec Group supports Nordic Capital with EUR 6.1 billion fundraise

Monday 26 October 2020

Independent fund and corporate services provider, the Aztec Group, has supported Nordic Capital with the fundraising activities and final close of Nordic Capital Fund X.

Raising EUR 6.1 billion at final close, Fund X is the largest fund that Nordic Capital has raised.

Fund X will continue Nordic Capital’s strategy of focusing on majority investments in non-cyclical growth companies in the healthcare, technology, and payments and financial services sectors. 

Ged Kelly, Head of Fund Operations at Nordic Capital, commented: “For Fund X we were pleased to offer a parallel fund in Luxembourg in addition to the Jersey fund. Both Funds will be administered by Aztec, who are a key administration partner having provided excellent support in prior Nordic Capital funds. 

“Managing the complexities of fund establishment and investor onboarding across jurisdictions can be challenging under normal circumstances, so to do so remotely against the current backdrop is a great achievement. I’d like to pass on my thanks to the team at Aztec for the professionalism and the sheer dedication they demonstrated throughout this process.”

Aztec Group, which has provided a wide range of administration services to Nordic Capital since 2014, supported Nordic Capital with the establishment of Fund X and will provide ongoing administration, financial reporting, depositary and investor services to the Fund from its offices in Jersey, Luxembourg and the UK. 

Reshentha Beeby, Associate Director of Private Equity at Aztec Group, said: “To raise a fund of this size in such a short timeframe and in the midst of a global pandemic speaks volumes about Nordic Capital’s standing in the market – and the resilience of the management team to press ahead with their ambitious plans in these testing times. 

“We’re delighted to have been given the opportunity to support with the establishment of this exciting fund and look forward to building on our excellent relationship as we support with the ongoing administration.”