Nordea has hit the fund raising trail with the launch of Nordea Private Equity II, a global fund-of-funds with a target capitalisation of E300m.
So far the fund has E164m in its coffers, following commitments from a number of Nordic institutional investors, including a Swedish public pension buffer fund. The fund will be open for new investors throughout 2005 and hopes to close within a year.
It will invest in funds that operate in the MBO and venture sectors, as well as special situations. It will not be incorporating direct investments into its strategy.