Eqvitec's mezzanine team spins out
Finnish venture and growth investor Eqvitec has sold its mezzanine operations to the newly formed Armada Mezzanine, led by former head of mezzanine at Eqvitec Pertti Nurmio.
Armada will take over all Eqvitec's mezzanine funds, including the latest fund which closed on EUR 103m in April last year. The fund will be renamed Armada Mezzanine Fund III.
In total, Armada will have funds exceeding EUR 150m under management. It will continue its initial investment strategy; financing expansion and buyouts deals in the small to mid-cap market in the Nordic countries.
Joining Nurmio at Armada are Ilkka Santti and Jan Wiklund, both from Eqvitec's former mezzanine team.
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