The state of Nordic
private equity 2020.

Argentum Asset Management is one of the leading fund investors in Northern Europe, with an investment portfolio that comprises more than 180 private equity funds. The core field of expertise is the evaluation and selection of private equity funds and fund managers. In addition to investing in newly established private equity funds, the operations include investments in private equity funds through the secondary market and co-investments with private equity funds in Argentum’s portfolio.

Argentum Asset Management manages Argentum Fondsinvesteringer, the Norwegian Sovereign Wealth Fund for private equity fund investments, as well as capital for private investors, primarily through the Argentum vintage funds, which raises capital annually. By the end of Q4-2019, the company’s investment portfolio had generated an annual return of 15.1 per cent since the company was founded in 2001. Total committed capital in funds and structures managed by Argentum at the end of Q4-2019 amounted to €1.6bn.

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This report is produced for information purposes only and is not to be treated as investment advice. No representation is made, or assurance given as to any opinions, projections, forecasts, etc. provided in this report. Investment figures are calculated from equity value and excludes add-on investments. Number of exits exclude write-offs.⁵⁵ Only Nordic companies listed on the main stock exchanges are included in IPO figures. Sources: Argentum’s data, Argentum’s estimates, public information and interviews with selected fund managers.

We would like to thank Ingrid Teigland Akay, Hadean Ventures; Teodor Bjerrang, SNÖ Ventures; Frida Einarson, Verdane; Sverre Flåskjer, Equip Capital; Asger Hattel, Signicat; Henrik Lisæth, Explore Equity; Ali Mitchell, EQT Ventures; Eivind Roald, QNTM; Jaana Viertola-Truini, Mathem; and Svein Yngvar Willassen, Confrere for sharing their insights and contributing to this report.