Cubera Private Equity has held the final close of its latest Nordic secondaries fund – Cubera X – at its hard cap of €780m, ahead of its target size of €700m. Including GP commitments the total size of the oversubscribed fund is €807m.
In a press statement, Reidun Tysseland, Managing Parter of Cubera Private Equity, said: “The investor base for Cubera’s secondary strategy has been further institutionalised during the fundraise, with more than 50% of the capital coming from investors outside the Nordic region.”
Cubera X has already committed around 25% of the fund in seven Nordic secondary transactions.
With a total of €1bn of inflows across all strategies over the past 12 months, has added two senior professionals to its team – Pontus Elmer as Head of Capital Formation, and Michael Falck as a Partner.
Elmer, who previously spent 12 years at EQT, will be responsible for orchestrating growth across all strategies. At EQT, he spent for nine years as the Head of Advisory in the Client Relations and Capital Raising team and three years as a Head of ESG Data.
Falck Meanwhile, has extensive experience in alternative investments and fund selection from CapMan, Kåpan Pensioner and Nordea. He will play a key role in the development and deployment of the firm’s Nordic Primary fund of funds strategy, and will serve on the Investment Advisory Committee of the next fund in this series – Cubera PE V – which is coming to market this autumn.
