Pohjola holds second close on EUR119m

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Finnish Pohjola Private Equity Funds has held a second close on its novel fund-of-funds Selected Private Equity Funds I LP on EUR119m, exceeding its target of EUR100m. The vehicle has a hard-cap of EUR180m.

The fund has a three-year investment period from the time of its first close (June 2007), but is expecting to be fully invested during next year. The vehicle will follow the investment cycle of six to seven years of the funds the vehicle will invest in.

Hannes & Snellman provided legal advice.

Investors

So far 18 Finnish institutional investors have invested in the vehicle. The cornerstone investor was Suomi Mutual Life Assurance that contributed EUR20m. Op Pension Endowment also made a significant investment together with other Finnish pension and insurance companies. Minimum subscription was EUR1m, and GP contribution totalled EUR100,000.

Investments

The new vehicle will invest selectively in European small and mid-market buyout funds and have already made seven investments since it held its first close in June 2007.

People

Managing director, Samuli Sipila, manages a team of six professionals that will manage the fund.

Name: Selected Private Equity Funds I L.P

Target: EUR100m

Closed on: EUR119m

Focus: European small-mid buyout

Contact: Samuli Sipila

Address: Pohjola Private Equity Funds Oy, Etelaesplanadi 12, 00100 Helsinki, Finland. Tel: +358 10 252 7197. Fax: +358 252 7201

Advisers: Hannes & Snellman (Legal).