Fundraising Fox

Waterland

Private equity

Bussum · Growth · 20 people tracked

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Investment thesis

Waterland Private Equity applies a buy-and-build strategy, backing successful companies in fragmented, growing markets and partnering with management teams to accelerate growth via organic development and targeted add-on acquisitions. It provides expansion capital plus hands-on support in acquisitions, financing and organisational development while leaving daily operations to management. Its approach rests on three pillars: buy-and-build, proactive deal sourcing, and a flexible, tailor-made strategy. Investments are guided by four macro-economic themes: outsourcing & digitalisation, ageing population, leisure & wellbeing, and sustainability. Backed by leading institutional investors, Waterland has raised over €20 billion in commitments, and is currently investing Fund X.

Invests inWellness & FitnessBelgiumDenmarkEuropeFranceGermanyIrelandNetherlandsNorwaySpainUnited Kingdom

Source: firm website, verified Aug 6, 2026.

Stage
Growth
HQ
Bussum, NL
Instruments
Equity
Founded
1999
AUM
$22B
Tracked investments
15

Team · 20 people

from the firm's website
Cyrielle Belbézier· Investment Manager
Florian Behrmann· Investment Director
Joy Castenmiller· Principal
Pieter Bukala· Investment Director
Adriana Atanasova· KYC Analyst
Ahmed Benkirane· Senior Associate
Chloé Brandt· Senior Associate
Eve Aydin· Office Manager | Team Assistant
Felix Burlein· Associate
Haroon Ahmed· Associate
Joanna Bannister· Investor Relations Executive
Leslie Boudriga· Office Manager
Liliana Bezer· Responsible Investment Associate
Nathalie Callens· Executive Assistant
Pedro Barros· Investor Relations Director
Sana Benmahria· Head of Technology
Simon Briggs· Senior Associate
Thijs Blom· Executive Assistant
Thomas Chevalier· General Counsel
Zaina Ahmed-Karim· Co-Chief Financial Officer

Investments · 15 tracked

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9Altitudes

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Aevitae

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Afo

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Albatross
Albatross Projects

A turn-key provider of EMC and AMS chambers.

All Things Live

Represents, promotes and produces more than 12,500 events per year.

Alliance Electronics

Specialised in design, prototyping and manufacturing of electronics systems.

Alphitan

Specialist provider of maintenance and repair services for electronic and motor systems.

Alphitan Group
Aml Riatol
Argona
Arseus

R&D scientific company delivering innovative solutions and concepts to professionals and institutions in the healthcare sector.

Atl

Fund performance · per public LP disclosures · 7

as of Jun 2025
FundVintageCommittedNet IRRTVPIDPI
Waterland Private Equity Fund VI LPLPs: Florida State Board of Administration201523.7%2.40x1.84x
Waterland Private Equity Fund V C VLPs: Sacramento County Employees' Retirement System201135.0%2.95x3.05x
Waterland Private Equity Fund VII C.V.LPs: Florida State Board of Administration200534.5%1.53x0.16x
Waterland Private Equity VI Overflow Feeder Fund L.P.LPs: Florida State Board of Administration2004-100.0%0.00x0.00x
Waterland Private Equity VI, L.P.LPs: Florida State Board of Administration200423.0%2.26x1.84x
Waterland Private Equity VI, L.P. Overflow FeederLPs: Florida State Board of Administration20040.14x0.00x
Waterland Private Equity Fund VIII C.V.LPs: Florida State Board of Administration20011.27x0.00x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

What stage does Waterland invest at?
Waterland invests at the Growth stage.
What sectors does Waterland focus on?
Waterland focuses on Wellness & Fitness.
Where is Waterland located?
Waterland is headquartered in Bussum, NL.

Images

Waterland photo

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