Secondary Market Participants in the Nordic Region

by Antonia Lee

  • 15 Sep 2011
  • PE
  • RE

There are currently 61 investors located in the Nordic region that are considering the possibility of purchasing private equity or real estate fund stakes on the secondary market within the next 24 months, which accounts for just under 10% of all secondary market buyers. The majority of these are located in Denmark, which accounts for 31% of the Nordic secondary market buyers. One Nordic-based investor looking to gain exposure to the secondary market is Mandatum Life Insurance Company. The Finnish insurance company primarily seeks to purchase stakes in Europe-focused buyout funds in order to accelerate cash flows and also to take advantage of favourable fund pricing.

From the seller side, there are currently 26 investors based in the Nordic region that are potentially looking to sell private equity or real estate fund interests, again accounting for around 10% of all secondary market sellers. Norway, Denmark and Finland all host the largest number of sellers, with each country accounting for 27% of potential secondary market sellers within the Nordic region. One investor based in this region which is known for selling private equity fund stakes in the past is Dyvi Group. In 2009, the Norwegian family office sold a large portion of its private equity portfolio to a consortium of buyers on the secondary market. The portfolio consisted of stakes in private equity funds and private companies.

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