Armada Mezzanine holds €103m final close

The fund was launched in early 2014 and reached a €70m first close by May of that year. Alhough Fund IV has raised capital in excess of its target, the final close was short of its €150m hard-cap.

Armada said the final amount was raised predominantly from existing investors, although some new investors also contributed.

Investors
LPs in Armada Mezzanine IV are mainly Nordic and European institutional investors. The LP base includes public and corporate pension funds, insurance companies, public organisations, fund-of-funds and family offices.

The European Investment Fund, Finnish State Pension Fund, LocalTapiola General and Life, Finnish Industry Investment, Tradeka-Invest and Sonera Pension Fund are among the vehicle's backers.

Investments
Armada Mezzanine Fund IV will provide senior, mezzanine and unitranche financing for private equity-led deals, as well as growth financing of SMEs in the Nordic countries.

The fund will follow the same strategy as the GP's previous vehicle, and has so far seen the fund invest around a third of its total commitments in three companies in Sweden, Norway and Finland.

People
Pertti Nurmio is the managing partner of Armada Mezzanine Capital.

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• Nordics
• Mezzanine
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