Nordic Capital raised 4.3 billion euros ($5.1 billion) for its latest flagship fund, the FT reported, adding that the funding surpassed its 3 billion euro target and planned 4 billion euro upper limit in 11 months.
Inflexion raised a total of 2.25 billion pounds ($3 billion) in two separate funds from investors that included New York State Teachers Retirement System and the Illinois Municipal Retirement Fund, the report said. https://on.ft.com/2IytUXi
Inflexion's fundraising was oversubscribed by more than twice, according to the report, citing sources.
The Nordic fund's investors that include Minnesota State Board of Investment and the New Mexico State Investor Council were satisfied with the size of the new funding, the report added. About 70 percent of the investors remained in the fund while 30 percent were new entrants, the FT said.
Inflexion and Nordic Capital did not respond to a request for comment outside regular business hours.
Nordic Capital, one of Europe's largest private equity investors, said in March it was buying online banking payments provider Trustly, the latest in a string of deals in the fast-growing fintech sector.
In 2017, it sold Swedish payment platform Bambora to French payments specialist Ingenico (Paris: FR0000125346 - news) for 1.5 billion euros after three years of ownership. ($1 = 0.8497 euros) ($1 = 0.7422 pounds)
(Reporting by Kanishka Singh in Bengaluru; Editing by Dale Hudson)