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Pohjola’s Selected Private Equity Funds II reaches first closing

Finnish-based pan-European private equity fund of funds manager Pohjola Private Equity Funds has reached the first closing of its Selected Private Equity Funds II on EUR97m.

The vehicle, which has a EUR150m target and a hard cap of EUR240m, has raised the first EUR97m from seven Finnish institutional investors.

Pohjola now intends to expand its investor base by inviting selected institutional investors from outside Finland to participate in the fund.

The fund will invest in a portfolio of 15 lower mid-market buyout funds across the EU countries, Norway and Switzerland.

The fund of funds will target funds investing in companies with enterprise values below EUR250m and focusing on management buyout, consolidation and platform strategies.

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