Longship closes third fund at NOK 2.1 billion hard cap in under four months
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 in under 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 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 commitment to actively backing growth companies in the Norwegian lower mid-market. Longship supports businesses operating within high-growth, niche sub-sectors, which exhibit the potential to become sustainable, category leaders as the sub-sector scales. Specifically, Fund III will typically target profitable companies in Longship’s four core investment themes: Healthcare, Sustainability, Technology & Solutions and Quality of Life. Investee companies will usually be turning over NOK 100-750 million annually at the time of investment.
Rede Partners is delighted to have supported Longship on this highly successful fundraise.