Nest Capital, the mezzanine arm of Nordic investment firm CapMan, has announced the €100 million first close of a new private debt fund.
The fund will provide mainly unitranche and mezzanine loans to small and medium-sized companies across the Nordic region.
These debt investments will support leveraged buyouts, add-on acquisitions, expansion projects, re-financings and recapitalisations.
CapMan has invested €2 million in the fund, whose other investors include Nordic and European insurance companies, pension funds, other institutional investors and family offices.
“The establishment of this new private debt fund is a great achievement and we see yet untapped potential in the market to develop credit products further,” said Niko Haavisto, CapMan's chief financial officer, in a statement.
Nest Capital was formerly known as CapMan Credit, which was the adviser to the fully invested €95 million CapMan Mezzanine V fund. That fund made eight private debt investments, of which four have been successfully repaid to date.
Since 1995, CapMan has raised almost €600 million of mezzanine fund commitments and funded more than 50 mezzanine investments in the Nordic region.
Overall, CapMan has around €2.7 billion under management and its activities include buyouts, real estate and technology/life sciences.