About This Fund
Adelis Equity Partners Fund IV AB is the fourth flagship fund of Adelis Equity Partners, a Stockholm-headquartered private equity firm founded in 2012. The fund achieved a final close of EUR 1.616 billion in March 2025—well above its target and significantly oversubscribed—drawing EUR 1.5 billion from external institutional investors alongside EUR 116 million from Adelis employees, who collectively serve as the fund's largest single investor at a 7.7% stake. Park Hill Group acted as placement agent.
Fund IV pursues growth-oriented buyout investments in mid-market companies across the Nordic region (Sweden, Denmark, Norway, Finland) and the DACH area (Germany, Austria, Switzerland), targeting businesses with revenues of EUR 10–300 million. Adelis concentrates on three sectors—Business Services, Tech & Software, and Healthcare & Life Sciences—partnering with founders and management teams to accelerate growth through organic expansion, industry consolidation, and add-on acquisitions. Fund IV succeeds the EUR 932 million Fund III, reflecting steady fund-size growth since the firm's debut in 2013.
Since inception, Adelis has raised EUR 4.25 billion across four flagship funds and two continuation vehicles, completing 45 platform investments and more than 260 add-on acquisitions with 22 full exits and average annual portfolio revenue growth of 34%. Fund IV drew commitments from leading pension funds, foundations, and funds of funds in Europe and North America, with 75% of external capital from returning Fund III investors who increased their average commitment by approximately 30%.