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Waterland Private Equity closes seventh fund at €2 billion

Waterland Private Equity Investments closed its seventh institutional fund at €2 billion ($2.4 billion).

The Netherlands-based firm closed the Waterland Private Equity Fund VII, a buyout fund, less than two months after launch, said a news release on its website.

The fundraising target could not be learned by press time.

Commitments were drawn across institutional investors from Europe, the U.S., Middle East and the Asia-Pacific region, with public pension funds representing the largest proportion of the investor base, the news release said.

The fund will invest in medium-sized quality companies in fragmented growth markets in Northern Europe to finance growth through acquisitions and organically.

"The fundraising for WPEF VII has been a great success, and we are grateful for the support of our investors," said Frank Vlayen, CEO at Waterland, in the release. "We look forward to making investments with our seventh fund, for which we see many attractive opportunities in our target region."

Investors in the fund include the $67 billion Massachusetts Pension Reserves Investment Management Board, Boston, and $27 billion Texas County & District Retirement System, Austin.