Kirkland & Ellis advised FSN Capital, a leading Northern European private equity firm, which recently closed its sixth mid-market fund, FSN Capital VI. The fund was closed at its hard cap with aggregate capital commitments of €1.8 billion, making it significantly larger than the size of its SEK 9.62 billion (€985 million) predecessor, FSN Capital V. The fund was oversubscribed and attracted substantial commitments from new investor relationships, a large portion of which completed diligence on a fully virtual basis. FSN Capital is a leader within the industry on ESG and the fund is classified as an Article 8 or “light green” fund under the European Union’s new Sustainable Finance Disclosure Regulation. The fund also has an ESG-linked capital call facility, which links the margin to improvements in ESG strategy and governance, carbon footprint and diversity.
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