January 2020 – KJK Fund III final closing successful, exceeding target with €221 million commitments
KJK Management S.A. is happy to announce the successful final closing of KJK Fund III S.C.A. SICAV-RAIF (“KJK Fund III” or the “Fund”) held on January 10, 2020, with total commitments of €221 million surpassing the original €200m fundraising target. We wish to thank our investors for their renewed confidence in us.
KJK Fund III will continue with the lucrative investment strategy of its predecessor funds, investing in the Balkan region and the Baltic countries where the KJK team has been active since the mid-1990s. Since its first closing in July 2018, the Fund has already displayed a strong investment pace and invested EUR 71 million into three promising companies: Tahe Outdoors (December 2018), Elan Group (April 2019) and Baltik Vairas (July 2019). For more information on the companies please visit: www.kjksports.com.
KJK focuses on industrial and agribusiness companies with turnovers of EUR 30 – 75 million and EUR 20 – 50 million enterprise value. Geographically, KJK Fund III will invest primarily in the Baltic States, Bulgaria, Croatia, Romania, Serbia, and Slovenia, where KJK’s seven regional offices are based. The aim is to build a portfolio of well managed companies with reasonable valuation multiples, with a strict preference for majority stakes and clear exit strategies. KJK promotes portfolio companies’ investments into people, growth and cross-border expansion. As signatory to the United Nations-supported Principles for Responsible Investment (UNPRI), KJK understands the importance of sustainability and is committed to incorporating environmental, social and corporate governance issues into its decision-making and ownership practices. KJK’s experienced staff consists of 20 professionals managing in total more than EUR 600m of assets.
KJK Fund III investors consist of well-known blue-chip institutional investors and investment professionals from our traditional client base. The Fund also attracted significant interest from institutional investors coming from the geographical regions in which KJK invests. Kustaa Äimä, Managing Partner, said: “KJK Fund III represents a significant milestone in our development. We are really pleased to see the excitement and interest towards KJK Fund III domestically and internationally and are naturally very grateful for our investors trust and continued support. The strong demand we have received that allowed us to surpass the original EUR 200m target reflects the confidence of investors in our team, our capability to identify companies with high potential in the region, and our ability to transform and strengthen the companies we acquire, together with their management teams and employees”.
For further information do not hesitate to contact us at KJK Management.