DENMARK – Copenhagen based Danske Capital Management will launch a new private equity fund of funds in the first half of next year, following the successful recent close of its DKK4.1bn (e1.8bn) Danske Private Equity Partners fund.
“Early to mid next year is a realistic timetable for starting a new fund,” says Dan Kjerulf, a legal counsel and fund manager at Danske.

The private equity fund was set up to give entry-level institutional equity investors a broad exposure to all profitable segments of the market.
“ The investors are composed of prime Danish institutions: pension funds and life insurance companies,” adds Kjerulf.

Three managers currently run the fund, which is heavily weighted in US ventures.
“ The price adjustments over there in public indexes have made for a lot of attractive evaluations right now,” he explains.

Once the original fund has passed its initial active stage it will also service any future funds and funds of funds.
“So far, we have invested in five funds, but we expect this to rise to about fifteen,” comments Kjerulf.

Danske has two other new funds with six managers running them, eVentures Seed and eVentures Nordic, investing directly in development-stage technology companies, with a focus on internet technology. So far, the funds have attracted DKK1.4bn (e190m) primarily from pension institutions and they are capped at DKK2bn (e270m) for final closing.

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