About Us

We invest in European businesses across four distinct and complementary investment strategies and sectors which leverage our diversified platform.

Over the years, we have developed a unique geographic footprint focused on Mid and Small Cap investments in the Benelux, DACH, France, Nordics and the UK.

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Our Investment Strategies

Current Investments

Our Mid Cap funds were launched in 1989 and seek to invest in established mid-market businesses, typically valued from €200 million to over €1 billion, via majority control buyouts.

We have raised 10 Mid Cap funds to date and are currently investing from the IK X Fund, a 2024 vintage with €3.3 billion in commitments.

Launch Year

1989

Funds Raised

10

Investment Strategy

Majority

Enterprise Value

€200m+

Contact

Dan Soudry

Managing Partner, Head of Mid Cap Strategy

Our Small Cap funds were launched in 2016 and seek to invest in businesses at the lower end of the mid-market, typically valued up to €200 million, via majority or minority control buyouts.

We have raised three Small Cap funds to date and are currently investing from the IK SC III Fund, a 2021 vintage with €1.2 billion in commitments.

Launch Year

2016

Funds Raised

3

Investment Strategy

Majority or Minority

Enterprise Value

€80m – €200m

Contact

Kristian Carlsson Kemppinen

Managing Partner, Head of Small Cap Strategy

Our Development Capital strategy was launched in 2021 and targets growing businesses, typically valued up to €80 million.

This strategy currently has dedicated funds of €300 million in commitments.

Launch Year

2021

Funds Raised

1

Investment Strategy

Majority or Minority

Enterprise Value

€20 – €80m

Contact

Pierre Gallix

Managing Partner, Head of Development Capital Strategy

Our Partnership Fund strategy was launched in 2019 and targets more established businesses at the higher end of the mid-market, typically valued at €200 million or above, via minority partnership investments.

We have raised two Partnership Funds to date, IK PF I launched in 2019 with more than €300 million in commitments, followed by IK PF II in 2022 with commitments of €335 million.

Launch Year

2019

Funds Raised

2

Investment Strategy

Minority

Enterprise Value

€200m+

Contact

Thomas Grob

Managing Partner, Head of Partnership Fund Strategy

The Difference We Make

Our unique approach allows us to selectively deploy our funds in businesses that have shown significant potential for development in existing and international markets within the areas of Business Services, Healthcare, Consumer and Industrials. Our fund offering allows us to support companies at all stages of their investment journey, transforming national champions into international leaders.

By partnering with us, business leaders can benefit from our pan-European investment execution abilities as well as draw upon the support provided by our in-house Operations, Capital Markets and Responsible Investment teams. These teams are fully integrated throughout each stage of the investment process and assist in accelerating the growth of our portfolio companies.

Our Journey So Far

Our company’s origins lie in Enskilda Ventures Ltd, a London-based subsidiary of SE Banken Stockholm which, in 1988, sponsored founder Björn Savén to raise the Scandinavian Acquisition Capital (“SAC”) Fund, the first private equity fund to target the Nordic market.

Nordic Roots

1989 – 1999

1989

  • The SAC Fund closes with final commitments of €108 million.
  • Several investments are made across the Nordics.
  • Head Office in London opens.

1993

  • Industri Kapital (“IK”) becomes a separate entity and the SAC Fund is renamed to Industri Kapital 1989 Fund.
  • Stockholm office opens.

1994

  • The IK 1994 Fund closes with commitments of €250 million.

1996

  • IK expands into Benelux and makes its first investment.

1997

  • The IK 1997 Fund closes with commitments of €750 million.
  • Hamburg office opens.

1998

  • IK expands into DACH and makes its first investment.

Pan-European Footprint

2000 – 2009

2000

  • The IK 2000 Fund closes with commitments of €2.1 billion.
  • IK expands into France and makes its first investment.

2001

  • IK establishes its Operations team to drive portfolio value creation and growth.

2004

  • The IK 2004 Fund closes with commitments of €825 million.

2006

  • Paris office opens.

2007

  • The IK 2007 Fund closes with commitments of €1.7 billion.

2008

  • Industri Kapital becomes IK Investment Partners.

2009

  • Luxembourg office opens.

Multi-Strategy Offering

2010 – 2019

2010

  • IK establishes its ESG function.

2012

  • Christopher Masek is appointed as CEO.

2013

  • The IK VII Fund closes with commitments of €1.4 billion.

2014

  • IK becomes a signatory to UN Global Compact.

2015

  • The IK Platform expands to include the Small Cap strategy.
  • The IK Small Cap I Fund closes with commitments of €277 million.

2016

  • The IK VIII Fund closes with commitments of €1.85 billion.

2017

  • IK becomes a signatory of UN-supported Principles for Responsible Investment.
  • Amsterdam office opens.

2018

  • The IK Small Cap II Fund closes with commitments of €550 million.

2019

  • Copenhagen office opens.
  • The IK Platform expands to include the Partnership Fund strategy.
  • The IK Partnership Fund I closes with commitments of €300 million.

Accelerated Growth

2020 – present

2020

  • The IK IX Fund closes with commitments of €2.85 billion.
  • The IK Platform is reinforced with the introduction of the Capital Markets team.

2021

  • IK makes its first investment in the UK.
  • The IK Platform expands to include the Development Capital strategy.
  • The IK Small Cap III Fund closes with commitments of €1.2 billion, including a dedicated pool to fund smaller transactions as part of the Development Capital strategy.
  • IK Investment Partners becomes IK Partners.

2022

  • The IK Partnership Fund II closes with commitments of €335 million.

2024

  • The IK Strategic Opportunities I Fund closes with commitments of €505 million.
  • Strategic alliance with Wendel formed.

2025

  • Munich office opens.
  • The IK X Fund closes with commitments of €3.3 billion.

Collaboration

By joining forces with people we believe in, our international and ambitious team seeks to generate lasting value. We pride ourselves in having transparent and collaborative relationships with our partners, understanding their priorities and providing them with support.

Respect

The business leaders we engage with know their businesses better than we do. And we know ours. Our team and expert network pay attention to management’s sense of purpose and values at both a corporate and social level. We believe this allows for trust and mutual respect.