Ropes & Gray Represents Nordic Capital on Fund VIII Closing

Ropes & Gray advised Nordic Capital on the fundraising of its eighth buyout fund, Nordic Capital Fund VIII, which closed in December on its €3.5 billion hard cap. The fund is one of the largest private equity funds focused on the Nordic region to be raised, and attracted a diverse group of investors including public and private pension funds, sovereign wealth funds, financial institutions, endowments, family offices and other institutional investors from North America, Europe, Asia, the Middle East and Australia.  

The legal work was notable for having to provide flexibility in the fund documents for an array of macroeconomic issues and regulatory changes that were topical during the fundraising, including fears of a potential breakup of the Eurozone, the demise of the Euro as a currency, and the AIFM Directive.

Ropes & Gray fielded a team incorporating both U.K. and U.S. funds and tax attorneys, including private investment funds partner Matthew Judd and tax partner Jay Milkes.