Friday 27. January 2023
Longship closes third fund at NOK 2.1 billion hard cap
Longship announces first and final close of its third fund at NOK 2.1 billion hard cap in less than four months, despite challenging market backdrop.
Norway-based private equity firm Longship has announced the first and final close of its third fund, Longship Fund III, at NOK 2.1 billion (c. €200 million). The fund, which reached its hard cap less than four months after launch, saw strong demand from institutional investors, securing a 100% re-up rate from existing Longship investors and attracting new money commitments from a select group of purpose-driven investors.
Longship is a deeply experienced investor in the Norwegian lower mid-market, with the partner team investing together for more than 17 years. Its model combines local connectivity, expertise in identifying structural growth trends early, and the ability to build truly strategic assets within its target sub-sectors. Since establishing Longship in 2015, the team has made 14 platform investments, 45 add-ons and exited four businesses delivering top quartile performance.
With Fund III, Longship will continue its unwavering commitment to actively backing growth companies in the Norwegian lower mid-market. Longship supports businesses operating within high-growth sub-sectors, which exhibit the potential to become sustainable, category leaders as the sub-sector scales. As for the previous funds, Fund III will typically target profitable companies in Longship’s four core investment themes: Health and care, Sustainability, Technology & Solutions and Quality of Life. Investee companies will usually be turning over NOK 100-750 million annually at the time of investment.
Longship was advised by Rede Partners, an independent funding advisor to the private equity industry. Goodwin was lead legal counsel in the fundraising.
For more information, please contact:
Kai Jordahl, Managing Partner, Longship AS
+47 90 98 22 71
kai.jordahl@longship.no
About Longship:
Longship is a Norwegian private equity investor established by a group of experienced investment professionals in 2015. Longship identifies and invests in companies with significant growth potential in the Norwegian lower mid-market and apply a transformational growth approach. The investment team currently consists of eleven professionals, making it the leading player in the Norwegian lower mid-market.