Leading independent fund and corporate services provider, the Aztec Group, has supported Nordic Capital on the final close of its latest fund, Nordic Capital Fund IX (“the Fund”), at just over €4.3billion.

Domiciled and administered in Jersey, the Fund was heavily oversubscribed, exceeding its target of €3.5billion in just seven months. Focused on European investments, the Fund will invest in five core sectors: healthcare, financial services, technology and payments, consumer retail and industrial goods and services.

Aztec Group supported Nordic Capital with the Fund’s formation and fundraising activities and will provide ongoing administration services to the Fund and its investment structures from its Jersey office.

Aztec Group is one of the world’s largest independent providers of fund, corporate and depositary services, with over 720 employees operating across six leading jurisdictions. Administering over €290bn, the Group provides outsourcing services to more than 170 alternative investment managers, including over 20 leading private equity and venture capital managers in the Nordic region.

Michelle McNaney, Private Equity Director at the Aztec Group, said:   “We’re naturally delighted to be given the opportunity to administer this exciting fund and build on our long-standing relationship with Nordic Capital. The Fund’s over-subscription is yet another exceptionally successful fundraise for Nordic Capital, who continue to demonstrate themselves as a key player beyond the Nordic region. Their success highlights the continued appeal of alternative asset classes within the investor community, particularly when underpinned by a sound investment strategy and an experienced investment advisor.”

Ged Kelly, Managing Director and Head of Fund Operations of Nordic Capital commented:   “Launching and closing a major fund entails a considerable amount of work, which is highly complex in nature and needs to be delivered within a short and often rigid timeframe. Demonstrating their partnership approach and commitment to our business, the Aztec Group supported us through this process and we were confident that they could deliver what was required to ensure a seamless approach for us and our investors.”