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Aztec supports multi-billion remote fundraise

Aztec supports multi-billion remote fundraise

Wednesday 04 November 2020

Aztec supports multi-billion remote fundraise

An independent fund and corporate services provider has supported Nordic Capital with the fundraising activities and final close of Nordic Capital Fund X.

Raising EUR 6.1billion at final close, Fund X is the largest fund that Nordic Capital has raised and surpasses its 2018-vintage Nordic Capital Fund IX, which raised EUR 4.3 billion (including GP commitment).

The Fund, launched in April 2020, was oversubscribed at its hard cap, and was raised in less than six months in a ground-breaking remote capital raise without holding any face-to-face meetings. 

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.

Reshentha Beeby, Associate Director - Private Equity, 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."

Ged Kelly, Head of Fund Operations at Nordic Capital, added: "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."

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