UK subsidiary of Kvika banki hf, a Nasdaq Main Market-listed bank

Kvika announces the successful closing of HCPII (“the Fund”), surpassing its target with a strong backing from a diverse group of investors across Iceland and the UK. This milestone strengthens Kvika’s position in the UK, expanding its principal and fund investment capacity to about £100m and reinforcing its commitment to the region’s private equity market.

The Fund has garnered strong support from both investors Kvika has previously partnered with and new investors. Building on Kvika’s established track record in UK private equity, it will focus on investing in established small and medium-sized UK companies.

Targeting businesses with an enterprise value of £20-100 million, the strategy focuses on deploying equity of £5-30 million per transaction to secure influential minority or majority positions in established, high potential companies. Kvika works alongside skilled managers, industry experts, independents, and entrepreneurs, leveraging strategic consolidation and operational enhancements to drive growth, improve profitability, and support businesses on their journey to the next stage.

Richard Beenstock, CEO of Kvika UK said – “We greatly appreciate the investors' support and the shared confidence in the compelling opportunities within the resilient UK lower mid-market. Over the past few years, Kvika has been expanding its private equity capabilities in the UK, and this fundraise marks a significant milestone in strengthening our investment reach even further.

We continue to see an underserved market with strong, scalable companies ready to transition to the next stage of their development. Through strategic partnerships and with our flexible approach, we can support these businesses and their management teams in driving growth and unlocking new opportunities. We will continue to invest across all sectors, with a particular focus on consumer markets, health care, manufacturing and business services, areas that align well with the expertise within the team and the investment committee, which bring decades of experience in building and supporting businesses in these industries. The key is backing businesses with robust management teams and the potential for significant growth.

Our existing investments have demonstrated the impact of this approach—driving expansion, creating jobs, and enhancing value while strengthening the companies' competitive positions.”

The Fund is a joint initiative between Kvika bank and its subsidiaries, Kvika UK and Kvika Asset Management.

Kvika announces the successful closing of a new private equity fund, exceeding its target with strong investor support from Iceland and the UK.

Kvika closes new UK lower-middle market private equity fund

Kvika Securities Ltd. has changed its name to Kvika Limited.

Kvika Securities Ltd is now Kvika Limited

Hafsteinn Hauksson has been appointed Chief Economist of Kvika. Hafsteinn has significant experience in global financial markets, having been a member of the Kvika investment team in London since 2019, where he is frequently sought as commentator on global macroeconomic developments. Hafsteinn will continue to be based in Kvika’s London office.

Hafsteinn earned an MSc degree in Finance and Economics from the London School of Economics in 2015 and holds a BSc degree in Economics from the University of Iceland.

Since completing his postgraduate studies, Hafsteinn has been based in London where he was an Associate with market leading sovereign advisory Newstate Partners before joining GAMMA Capital Management Ltd as an Economist.

Prior to relocating to London, Hafsteinn held a role as Senior Economist with Arion Bank Research in Reykjavik, as well as having spent a number of years as a journalist covering economics and financial markets, including close to two years as a broadcast journalist for Channel 2 evening news in Reykjavik.

Hafsteinn Hauksson has been appointed Chief Economist of Kvika.

Hafsteinn Hauksson Chief Economist of Kvika

Kvika

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„Kvika UK provides bespoke equity and debt solutions to lower mid-market companies and investors, driving growth, acquisitions, and long-term value creation“

News

Kvika closes new UK lower-middle market private equity fund

20 March 2025

Kvika Securities Ltd is now Kvika Limited

19 March 2025

Hafsteinn Hauksson Chief Economist of Kvika

18 January 2024

Kvika Limited