The Helsinki-based investment bank took a €20mn stake in Nordic Mezzanine Fund III, a €320mn private equity vehicle which reached a final close in late 2009. Nordic Investment Bank, which has also invested in fund manager Nordic Mezzanine’s previous two vehicles in the series, made the vast majority of its commitment in the form of a subordinated non-interest-bearing loan, while a nominal amount was committed as capital. The €22.3bn bank only participates in the private equity market through mezzanine vehicles and typically maintains a focus on the Nordic and Baltic regions.
Tapiola Mutual Pension Insurance Company joined Nordic Investment Bank as an investor in Nordic Mezzanine Fund III, adding to an extensive private equity portfolio. The firm, like the investment bank, has also invested with the fund’s manager in the past and includes Nordic Mezzanine in a diverse portfolio of private equity managers which also features Charterhouse Capital Partners, Apax Partners, Partners Group and IK Investment Partners.
Elsewhere, United Overseas Bank has made an anchor commitment of $30mn to Asean China Investment Fund II, which recently held a first close. The venture capital fund is managed by the bank’s subsidiary, UOB Venture Management, and targets growth sectors in South East Asia and China. United Overseas Bank has been committing to buyout and venture private equity funds since the early 1990s.
For more information on institutional investors in private equity, please see Preqin’s Investor Intelligence database.