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Private Equity

Nordic Capital closes ninth fund at €4.3 billion

Nordic Capital closed its Nordic Capital Fund IX at €4.3 billion ($5.1 billion), exceeding the €3.5 billion target, the private equity firm said Monday.

The buyout fund, similarly to its predecessor fund Nordic Capital Fund VIII that closed at €3.5 billion in 2013, focuses on five core sectors: health care, financial services, technology and payments, consumer retail, and industrial goods and services.

"Under Nordic Capital's ownership, portfolio companies have consistently achieved high levels of earnings growth, on average increasing sales by 8% and EBITDA by 13% per annum in the last 20 years," said Kristoffer Melinder, managing partner at Nordic Capital, in a news release.

Investors in the fund include the $24.2 billion San Francisco City & County Employees' Retirement System, which committed €50 million, and the $67 billion Massachusetts Pension Reserves Investment Management Board, Boston, which committed €100 million.

A spokeswoman could not be reached to provide additional details.