Nordic investment firm Armada Mezzanine Capital has held a first close of €70m for its latest fund.
Armada Mezzanine Fund IV, which is targeting €100m with a €150m hard cap, has raised most of the first closing amount from existing LPs, said the firm.
The fund has received commitments from eight institutional investors including European Investment Fund, Finnish State Pension Fund, LocalTapiola General and Life, Finnish Industry Investment, Tradeka-Invest and Sonera Pension Fund.
Armada said it will work on expanding its investor base in Europe.
The fund will focus on mezzanine, unitranche and other private debt deals in the Nordic region.
Armada partner Pertti Nurmio said, “We are happy to experience such a strong support from our existing investors of which some have been investing with us for almost 15 years.
“We have a very experienced team and we believe that the Nordic private debt market will continue to provide excellent investment opportunities during the investment period of Armada Mezzanine Fund IV.”
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