Preqin’s Investor Intelligence online service shows that there are currently 11 private equity fund of funds managers investing in the asset class that are headquartered in the Nordic region. Four of these firms are based in Denmark, three in Norway, and two firms each are based in Finland and Iceland. In total, these fund of funds managers manage an aggregate of €21.5bn in private equity assets under management.
The largest of these firms is ATP Private Equity Partners, which has €6.9bn in assets under management. The Denmark-based firm’s latest fund of funds vehicle, ATP Private Equity Partners V, held a final close in March 2014, having raised €800mn in investor capital. The vehicle focuses on investments into buyout, venture, secondaries and distressed debt vehicles which target opportunities in the US, Europe and emerging markets.
Nordea Private Equity is the second largest of these firms, with €4bn in private equity assets under management, and invests in the asset class through its fund of funds vehicles and on behalf of customized separate account mandates. The firm has a preference for investing in globally-focused buyout, special situations and turnaround funds.
The third largest private equity fund of funds manager that is based in the Nordic region is Danske Private Equity, which has its headquarters in Denmark. It currently has €3bn in assets under management, with its latest private equity fund of funds, Danske-Private Equity V, having raised €650mn in investor capital. Dankse Private Equity solely seeks exposure to Europe- and US-focused buyout funds.
Of the Nordic-based private equity fund of funds managers tracked by Preqin, 91% would consider investing with first-time fund managers and 82% would consider co-investing alongside GPs.