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Intertrust wins private equity admin & depositary mandate

KLAP Partners, Intertrust GroupPrivate equity firm KLAR Partners, which said it had recently raised the largest fund in Europe during the Covid-19 pandemic, has appointed Intertrust Group as fund administrator.

Intertrust will provide fund administration, depositary and management services for specialist purpose vehicles across Luxembourg and Sweden.

KLAR Partners’ debut fund, KLAR Partners I, recently raised €600 million, which the firms said was one of the largest European first-time funds raised in the last ten years and the largest raised during the pandemic.

KLAR primarily invests in companies with annual turnover of €50 million to €500 million and which are based in the Nordic, Benelux and German regions.

Edwin Chan, UK funds director at Intertrust, said KLAR’s “highly successful debut fundraise” during the Covid-19 pandemic was a testament to the strength of the firm’s investment approach.

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