Polaris Management A/S
Polaris is an Alternative Investment Fund Manager (AIFM)
Polaris Management A/S (“Polaris”) a fund management company based in Copenhagen, Denmark. Polaris is licensed by The Danish Financial Supervisory Authority to operate as an Alternative Investment Fund Manager (AIFM) in accordance with the Danish Alternative Investment Fund Managers Act (Polaris FT number is 23009) and the Alternative Investment Fund Manager Directive Regulation (EU) 2011/61 (“the AIFMD”). Polaris has appointed Private Equity Administrators Depositary Service ApS as Depositary for the Polaris funds.
The funds managed by Polaris
Polaris Management A/S is currently the fund manager of active funds under its private equity investment strategy (“PPE”), one active fund under the new flexible capital investment strategy (“PFC”) and one active fund under the new public equity strategy ("PPU"), which is currently fund raising:
- Funds managed under Polaris Private Equity strategy (“PPE”)
- PPE IV: Polaris Private Equity IV K/S launched in 2015. Commitment: EUR 448m. SFDR Article 8. Fund raising status: Closed. Investment status: Active in divestment phase
- PPE V: Polaris Private Equity V K/S launched in 2021 (including co-investment vehicle Polaris V F&F Co-invest K/S). SFDR - Article 8. Commitment: EUR 650m. Fund raising status: Closed. Investment status: Active in investment phase
- Funds managed under Polaris Flexible Capital strategy (“PFC”)
- PFC I: Polaris Flexible Capital I K/S launched in 2022 (including investment vehicle PFC I Debt ApS). SFDR - Article 8. Commitment: EUR 120m. Fund raising status: Closed. Investment status: Active in investment phase
- Funds managed under Polaris Public Equity strategy (“PPU”)
- PPU: Polaris PPU Feeder Fund SICAV launched in 2023. SFDR - Article 8. Fund raising status: On-going. Investment status: Active in investment phase
Polaris follows industry guidelines for members of the European Private Equity industry
As a European private equity investor, we at Polaris Management A/S want to engage in the development of the industry, including the promotion of sustainability, through the relevant industry associations. We are therefore an active member of the private equity associations, Invest Europe (previously named European Venture Capital Association, EVCA), Active Owners (previously named Danish Venture Capital Association, DVCA) and SVCA (Swedish Venture Capital Association). As a member of these industry associations, we also aim to comply with their guidelines including their codes of conduct and specific guidelines for valuation, disclosures and tax.
Signatory of Principles of Responsible Investment
As a member of the investment community, we are a signatory of Principles for Responsible Investment (“PRI”) and follow their principles. These guidelines and principles are integrated in the way we work, impact the way we conduct our business, the public disclosures on our webpage, the annual reports of our portfolio companies and the set-up of our legal structure.
Signatories of UN Global Compact
Polaris Management A/S is a member of UN Global Compact and we work according to the underlying internationally agreed principles for sustainable development consisting of the UN Guiding Principles (UNGPs from 2011), and as referenced by the OECD Guidelines (OECD from 2011).
Sustainability at Polaris
Polaris is committed to working with sustainability and sustainability considerations are integrated throughout our business. We leverage international standards, co-operations and associations to inform our work and to be part of shaping our industry. We are therefore signatories of PRI and UN Global Compact. To support gender equality we are also active sponsors of Level 20, Kvinder i Finans and the Womens Equality Principles (WEP) and we engage in our industry’s effort to combat climate change through Initiative Climate International (iCI).
Polaris legal structure and tax
Polaris has an on-shore legal structure based on legal entities registered in Denmark. Through our structure, and through we way we conduct our business, we seek to comply with Active Owners tax policy published on the 8th of June 2021.
Polaris revenues and remuneration structure
Polaris Management A/S is the fund manager of Polaris funds. For the services that we provide to these funds, we receive an annual fee. Polaris Management A/S is owned by the partners employed in the company. The employees in Polaris Management A/S receives renumeration as employees in Polaris Management A/S. Certain employees of Polaris Management A/S also invest in the funds through a carried interest program. Carried interest consists of financial instruments which provide a profit-sharing based on the returns of each fund, if these exceed a minimum hurdle rate. The investments made in the carried interest program are made at market value. Polaris’ carried interest program is fully in-line with market standards in the private equity industry.
The investors in Polaris funds
The investors in Polaris funds are reputable institutions based in the Nordics and throughout Europe. As part of their commitment as investors in Polaris funds, our investors accept our overall commitment to sustainability including, among other documents, our Responsible Investment Policy. Before being allowed to invest in Polaris funds, our investors are taken through an extensive Know-Your-Customer (“KYC”) process.
You can read more about Polaris current investors here.
Financial reporting for Polaris Management and our funds
The financial report for Polaris Management A/S is available here. An overview of the financial structure and development of Polaris funds is available in the Fund Administration document.