Nordea Asset Management has partners with Danish pension fund Industriens Pension to launch a private credit fund.
The Nordea Nordic Senior Loans fund is expected invest 3.5bn DKK (£401m) initially. The fund will be set up in partnership with Nordea Bank, with Industriens Pensions becoming the first investor.
The fund will look to provide loans to mid-market companies primarily owned by private equity funds.
“We are very happy with the investment, which we expect will provide a solid and attractive return at a relatively low risk,” said Lene Boserup, senior portfolio manager at Industriens Pension.
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“At the same time, we like the fund’s profile with a focus on steadily growing Nordic companies that need capital to develop further. With this, the investment also contributes positively to business life in Denmark and our neighbouring countries.”
Lea Vaisalo, head of private markets at Nordea Asset Management, added: “The Nordic credit market is structurally attractive, but difficult to access. Through a strong collaboration with Nordea Bank, we have created the possibility of a new source of financing for the benefit of both companies and investors.”
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