The fund – a “continuation fund” – was set up to buy portfolio companies from other funds, accelerating these firms’ growth and M&A opportunities. 

The FSN fund was “significantly oversubscribed” and attracted leading institutional investors, including endowments, pension funds and asset managers from around the world. AltamarCAM Partners and Cubera served as co-underwriters, FSN said in a statement.

The two companies in FSN Capital Confluence are:

Nordlo – a Nordic managed IT service provider, established through a proprietary three-way merger facilitated by FSN Capital V in 2018. The company has since completed a total of 15 strategic add-ons.

Saferoad – one of the largest providers of road safety and infrastructure solutions in Europe. FSN Capital V invested in the Saferoad Group in 2018, splitting the company into Saferoad and ViaCon. 

LGT Capital Partners, which specialises in alternative investing, has more than $100 billion in assets under management and more than 700 institutional clients in 44 countries. 

Set up in 1999, FSN Capital Partners is a northern European private equity firm and investment advisor to the FSN Capital Funds. FSN Capital Partners has a team of more than 90 professionals based in Oslo, Stockholm, Copenhagen and Munich. The FSN Capital Funds have more than €4 billion ($4.36 billion) under management.