Fundraising soars despite gloom

Nordic funds and investors seem to be spotting investment opportunities where others see doom and gloom. Fundraising has reached new heights, despite the predicted downturn in deal volumes.

Swedish buyout house Altor held a first and final closing of its third Nordic buyout fund on EUR2bn. Norvestor Equity, which also focuses on the Nordic mid-market, closed its fifth fund above target with commitments of EUR236m. Additionally, rumours in the market suggest that several of the larger Nordic buyout houses are due to announce funds within the next few months.

Smaller and specialised funds have also attracted LPs' attention. In Finland, Eqvitec launched a third mezzanine fund, which attracted EUR64m at first close and is targeting EUR100m. Sustainable Technology Partners in Sweden held a final close of its first fund on EUR58m. The capital will solely be invested in growth companies in the cleantech sector.

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