Nordea teams up with AlpInvest for co-investment fund

The programme will start on €200m; however, it is anticipated that it could rise to €400m. Deals undertaken by the fund will be sourced from both Nordea and AlpInvest's private equity operations.

Nordea's private equity team manages €2.5bn of assets and focuses on primary fund commitments, secondaries and co-investments mostly in mid-market buyouts, while AlpInvest has €39bn of private equity assets under management with a broad mandate to invest in a variety of stages, sectors and geographies.

Nordea opted for the partnership with AlpInvest due to its experience in co-investments and its historical returns, the company said. Combined with its other private equity mandates, AlpInvest said it would now be able to provide co-investment tickets of up to €250m.

Investors
Aside from Nordea Life & Pensions and Nordea Asset Management's private equity programme, the main sponsors are institutional Nordic investors. 

Investments
Deals will focus on a range of geographies including the US, Europe and Asia, with Asian investments focused mainly on China, South Korea, Japan and Australia. The fund will target mid-market companies with a maximum deal size of $1bn, with the fund expecting to make around 25 investments.

People
Nordea Asset Management – Christen Estrup (head of private equity).
Nordea Life & Pensions – Søren Tang Kristensen (head of alternative investments).
AlpInvest – Rob de Jong (managing director).

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• Nordea
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