Mandatum Asset Management moves forward successfully in its private equity investment projects
20 January 2023
Mandatum Asset Management’s Growth Equity II fund held its first close at the end of 2022, continuing its growth equity strategy. Overall, it was a favourable year for the company’s private equity activities despite the challenging market environment.
The second vintage of Mandatum Asset Management’s (MAM) growth equity strategy will continue to accelerate the growth and internationalisation of Finnish and Nordic companies. MAM Growth Equity II Ky held its first closing on 21 December 2022, anchored by Varma Mutual Pension Insurance Company, Tesi (Finnish Industry Investment) and Mandatum Life Insurance Company Limited.
MAM Growth Equity II primarily invests in Finnish growth companies with turnover in the range of EUR 10–100 million. The fund seeks to diversify its investments across industries where it sees opportunities for structural growth. MAM is an active minority owner, and its commitments range from EUR 10–30 million, which is clearly larger than other Finnish growth funds. MAM aims to actively develop its portfolio companies to enable their growth and internationalisation.
“We contribute to supporting successful growth companies by offering a flexible minority solution that also reduces the financial and operational risks of entrepreneurs and owners. Our approach has been very well received by portfolio companies, especially now as the capital markets have tightened. MAM Growth Equity II supports Finnish and Nordic entrepreneurs by providing capital, relevant tools and expertise to promote growth,” says Alexander Antas, Head of Private Equity at Mandatum Asset Management.
A successful year for private equity
Private equity is one of Mandatum Asset Management’s key focus areas. In 2022, MAM raised more than EUR 500 million for private equity investments, including approximately EUR 200 million for growth investments. MAM is one of Finland’s largest growth investors.
“MAM can look back on a successful year of growing its private equity activities. We believe that the challenging market environment offers interesting investment opportunities for long-term investors through our approach of focusing on growth investments,” says Mandatum Asset Management’s CEO Lauri Vaittinen.
Source: Mandatum
