Finnish Industry Investment appoints new CEO

Backman will assume his new role by 1 December, taking over from Juha Marjosola who is set to retire in September 2015. Until his retirement, he will remain a senior adviser at the firm.

Backman's experience in Nordic private equity includes seven years at CVC Capital Partners, most recently as managing director. Prior to that, he worked at Advium Corporate Finance, Industri Kapital and Lexel Group.

Marjosola has been president of Finnish Industry Investment since 1995. The company is government-owned and promotes Finnish businesses through private equity and venture capital investment. Recent activity includes a first close for FoF Growth II on €130m earlier this year and a €2.2m commitment to Mekitec, a Finnish food safety company, with co-investment from Inventure.

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