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Alternative Market Briefing

Nordea-backed Trill Impact raises $1.1bn for inaugural fund

Monday, September 06, 2021

Laxman Pai, Opalesque Asia:

Trill Impact, a joint venture between former EQT partner Jan Ståhlberg and Nordea Asset Management (NAM), has closed €900m in commitments for its inaugural impact mid-market buyout fund from prominent global institutional investors.

The fund, which was found to invest in non-listed companies with strong sustainability targets, launched in 2019 and has completed four transactions so far, all in northern Europe, said a press release from the independent private investments firm.

The midmarket buyout fund has a strategic partnership with NAM through which it works with responsible investments, global investor relations, and fundraising teams in Europe and overseas markets.

Its limited partners' advisory committee includes AP4, AP6, Allianz Global Investors, New York Life Insurance Co., Lucie, and Andre Chagnon Foundation, Danish pension provider Velliv, Pension & Livsforsikring, and Nordea Life & Pensions, a news release said.

"Despite the fundraising occurring in unprecedented times during the global pandemic, the Fund is one of the largest in terms of capital commitments raised by an emerging manager since the global financial crisis. It is also one of the largest first-time funds raised during the COVID-19 pandemic by an independent private investments firm. Nordea Asset Management has acted as the global distributor for the capital raise, Acalyx Advisors Inc. has acted as sole placement advisor in the US market and Campbell Lu......................

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