Nordic Mezzanine has achieved a final close on its second fund at €240m exceeding its original fund raising target of €200m. The investor base consists of Nordic institutions mainly pension funds and life assurance companies. The fund is structured as an English limited partnership and managed by Nordic Mezzanine UK Limited, which is authorised and regulated by the Financial Services Authority.
Nordic Mezzanine has offices in both London and Helsinki and has over €340m under management in its two mezzanine funds. The new fund will specialise in mid-market buyouts and expansion capital with a main focus on the Nordic region, but will also make investments in Germany.
Investee companies would have a typical enterprise value of between €25m and several hundred million euros and Nordic Mezzanine would typically underwrite mezzanine positions of €5m to €45m.
Earlier this year Nordic Mezzanine underwrote the mezzanine loan facility in the Paroc transaction. It also acted as the lead arranger and is currently acting as the facility agent for the loan. Paroc is a leading manufacturer of stone wool insulation products and solutions in Europe. Banc of America Equity Partners acquired the company in a buyout from Industri Kapital and Kone Corporation of Finland.