Waterland closes on €800m for fourth mid-market fund

Investors have flocked to Waterland's focussed offering of a regional buy-and-build strategy, which has served them well over the last nine years.

Waterland Private Equity Investments has closed its latest fund Waterland Private Equity IV after just three months in the market on its hard cap of €800 million ($1.2 billion). The firm said the interest from both existing and new investors was strong and it was significantly oversubscribed.

Waterland will make control investments in medium-sized companies in Belgium, Germany, Luxembourg and the Netherlands, with revenues between €10 million and €150 million where it believes it can implement a buy-and-build strategy.

This means the companies must be of sufficient size, have robust growth potential, fragmented competition, sustainable profitability and realistic sector consolidation potential.

Waterland’s investment themes focus on outsourcing and efficiency, ageing population, leisure & luxury and sustainability, where the firm can increase revenues, profitability and market share.

Rob Thielen, managing principal of Waterland, said in a statement: “We set out at the beginning of the fundraising with the clear goal of supporting our existing investors and adding a select number of longterm, international investors.”

MVision Private Equity Advisers acted as exclusive global placement advisor. Loyens & Loeff and Ropes & Gray acted as legal counsel to Waterland.