Gro Capital A/S, the former Dansk Kapitalanlæg Aktieselskab, headed by managing partner Lars Dybkjær, will manage the new fund with DKK 1 bn in commitment from Danica Pension.

Gro Fund I K/S will focus on equity and equity-related minority investments in primarily Danish, mature, mid-market companies with significant potential for value creation. The fund is structured as a Danish single-investor private equity fund with Danica Pension as sole investor. Gro Fund I K/S will be managed by Gro Capital A/S, the former Dansk Kapitalanlæg Aktieselskab, headed by managing partner Lars Dybkjær. Target investee companies are likely to have revenues between DKK 100 m and DKK 1.5 bn and the fund is likely to commit between DKK 50 m and DKK 200 m per investment.

Bruun & Hjejle has advised on all aspects of the fund formation for Gro Fund I K/S, including regulatory compliance, structuring and drafting of fund documentation. In structuring and advising on the terms for Gro Fund I K/S in line with market-standard expectations of Danish pension funds, Bruun & Hjejle has built on its extensive experience regarding alternative investment structures. Since 2011, Bruun & Hjejle has advised investors and sponsors in relation to the formation of more than 75 alternative investment structures, including the formation of Dansk Vækstkapital K/S (2011; DKK 5 bn), Copenhagen Infrastructure I K/S (2012/2013; DKK 7.2 bn), Sparinvest Property Investors III K/S (2013/2014; DKK 2.4 bn), Danish Climate Investment Fund I K/S (2014; DKK 1.3 bn), CI Artemis K/S (2014; DKK 2.9 bn), Copenhagen Infrastructure II K/S (2014/first close; DKK 8 bn) and Gro Fund I K/S (2014; DKK 1 bn). The closing of Gro Fund I K/S underlines Bruun & Hjejle’s commitment to alternative investment structures.