Nordea Asset Management raises EUR 900m for the first Fund of its private equity focus venture Trill Impact

Trill Impact, an independent private investments firm backed by Nordea Asset Management (NAM), has closed €900 million in commitments for its inaugural impact mid-market buyout Fund (“the Fund”) from prominent global institutional investors. This is one of the largest first-time-funds raised during the global pandemic by an independent investment firm.

Trill Impact was founded in 2019 by Jan Ståhlberg with the backing of Nordea Asset Management. Today, it is one of the largest dedicated impact investment houses in Europe with more than €1 billion in assets under management from its private equity and microfinance investment advisory strategies. This is a clear testimony to the power of the partnership between Nordea Asset Management and Trill Impact, combining the extensive private equity experience of the Trill Impact team with Nordea Asset Management’s deep impact analysis expertise and fundraising capabilities, aiming to bring best-of-breed impact private investments to the market.

Through its strategic partnership with Nordea Asset Management, a pioneer and leader in Responsible Investment, Trill Impact teams up with NAM’s award-winning Responsible Investment team and NAM’s global investor relations (IR) and fundraising teams around Europe and overseas markets.

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 as well as one of the largest first-time-funds raised during the COVID-19 pandemic by an independent private investments firm.

Since the launch of the Fund, four transactions have been completed by the Fund, all targeted investments in Northern Europe that seek to deliver private equity markets returns and lasting, measurable impact. Trill Impact, together with the management teams of portfolio companies has embarked on its journey to grow and transform companies to achieve their full impact potential.

Backed by a significant number of investors from Europe to North and South America, the limited partners’ advisory committee of the Fund consists of, among others: AP4 (The Fourth Swedish National Pension Fund), AP6 (The Sixth Swedish National Pension Fund), Allianz Global Investors, New York Life Insurance Company, Lucie and André Chagnon Foundation, Velliv, Pension & Livsforsikring A/S, and Nordea Life & Pensions.

“Our longstanding mission has been to provide returns with responsibility. This is very much what drove our venture with Trill Impact, joining our respective forces to offer investors world-class private equity and ESG expertise as well as the opportunity to participate in the change they want to see in the world. We’re thrilled to see that many prominent investors have recognized the value of this partnership and believe that this inaugural success paves the way for future growth of the Trill Impact offering.”

Nils Bolmstrand, CEO of Nordea Asset Management.

“My ambition for Trill Impact since inception has been to create a thought leader and force for positive change through impact investments, enabling like-minded investors to actively contribute to a better world and inspiring others to follow. I am convinced that, together with Nordea Asset Management and the Fund’s investors, we have now laid the foundation for future success.”

Jan Ståhlberg, Founder & Managing Partner of Trill Impact