The Danish private equity funds of funds manager with assets under management totalling EUR 5 billion remains positive in its approach. The firm closed its latest fund of funds vehicle, Nordea Private Equity III - Global Fund of Funds, in July and expects to start fundraising for a follow-on fund in early 2010.
Nordea Private Equity III - Global Fund of Funds has a global outlook and will invest in private equity funds focused on Europe, North America and Asia, although most of its investments will be in Europe. Typical investments will be around EUR 10 million in size. Opportunities of interest to it include buyout, special situations and distressed debt funds.
Nordea Private Equity is also considering raising another European focused fund of funds, which would be a follow-on fund to Nordea Private Equity II - European Middle Market, a vehicle that closed in 2007. Such plans, however, are in the very early stages and the exact characteristics of this European focused fund of funds are still to be determined.
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