About This Fund
Adelis Equity Partners Fund IV AB is the fourth flagship buyout fund of Adelis Equity Partners, a Stockholm-based private equity firm that specialises in mid-market growth investments across Northern Europe. Launched in 2024 and closed at a hard cap in February 2025, Fund IV raised EUR 1.616 billion in total capital — EUR 1.5 billion from external investors plus EUR 116 million committed by the Adelis team, representing a 7.7% employee co-investment. The fund was significantly oversubscribed, with 75% of external capital reinvested by existing limited partners from Fund III, who collectively increased their commitments by 30% over the prior vintage, a clear signal of strong investor conviction in the strategy.
Fund IV continues Adelis's proven formula of partnering with ambitious entrepreneurs and management teams to accelerate the growth of market leaders across three core sectors: Business Services, Technology & Software, and Healthcare & Life Sciences. The investment strategy targets companies with enterprise values in the EUR 100–500 million range and focuses on value creation through industry consolidation, digitalization, and cross-border expansion — particularly across Northern and Western Europe. Adelis is known for high-engagement ownership, deploying a dedicated deal team of 30 investment professionals alongside an extensive network of industrial advisors.
Adelis Equity Partners has a strong track record across three predecessor funds totalling approximately EUR 4.3 billion in cumulative capital raised. With 49 platform investments, over 300 add-on acquisitions, and 22 completed exits, the firm has delivered an average annual portfolio growth rate of 25% and consistent return multiples across vintages. Fund IV targets the same return profile, leveraging Adelis's deep sector expertise and deal origination network in the Nordic region to build the next generation of pan-European champions.