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Nordea Private Equity Secondary Fund I Reaches Target Size Ahead Of Final Close

Earlier this month, Nordea Asset Management reached its target size of EUR 150mn for its first secondary-investments focused fund, Nordea Private Equity Secondary Fund I, ahead of the final close on 12 January 2021.

Nordea Private Equity Secondary Fund I was launched in 2019 and complements Nordea’s Private Equity flagship fund, Nordea Specialised Investment Fund, SICAV-FIS – Global Private Equity Fund, an open-ended solution with over 50 institutional investors and private equity commitments of over EUR 1bn to top quartile funds since 2012.

Christen Estrup, Head of Nordea Private Equity, said:

“This new product—and indeed our whole product range—offers smaller and medium-sized investors access to Private Equity investments, thanks to a lower threshold for commitments and shorter deployment periods, leading to a rapid scaling of private equity exposure combined with a typically shorter duration. We are making illiquids more liquid for our clients.”

Julien Marencic, Manager of Nordea Private Equity Secondary Fund I, added:

We are very proud of our clients’ confidence despite a very challenging environment and believe that our high selectivity and strong focus on quality assets will enable our first secondary fund to deliver attractive returns to investors.”

Nordea Private Equity is a boutique within Nordea Asset Management, offering a range of diversified private equity investment vehicles and manages capital on behalf of institutional clients, family offices and foundations. NPE is one of the most active private equity fund investors in Northern Europe with an annual deployment of over EUR 500mn.

The NPE team has over 40 years of combined private equity experience and collectively, the team has executed more than 30 secondary transactions, with a total value of over USD $8bn.

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