Nordea closes fund-of-funds

Nordea Private Equity, the private equity arm of Nordea Investment Management has completed the third and final closing of its maiden fund Nordea Thematic Fund-of-Funds I at o208 million.

The fund, which launched last May, has attracted commitments from 14 Nordic institutions and has already committed capital to 12 funds, eight of which are US funds and four European. Two-thirds is being allocated to buyout funds and the remaining third will be invested in venture funds.

Lauge Sletting, head of Nordea Private Equity, commented: “The prices in the private equity market have found a fair level and we see an increasing number of interesting companies in which the private equity funds can invest. To us this means that more well-run private equity funds now raise capital.”

In the Nordic region, the fund will have a particular focus on IT and biotech funds, as well as buyout funds with a proven track record. Nordea Private Equity was advised by Hamilton Lane.