Advent boosts Nordic efforts

The private equity firm has strengthened its network in the region with the appointment of two experienced advisors.

Advent International has hired two Norwegian advisors as the firm continues to commit people and resources to the region.

Advent’s Nordic activity is coordinated by Jens Petter Hagen in the London office; he will now be assisted by Birger Nergaard, founder of Nordic venture firm Verdane Capital, and fellow Verdane executive Gunnar Rydning. 

Nergaard and Rydning have stepped out of their day to day operational roles at Verdane freeing up more time for a formal relationship with Advent. The two have been affiliated with Advent since the 1984 inception of Verdane, formerly Four Seasons Venture, as the firm frequently co-invests with Advent on deals.

“There is now a targeted Nordic strategy and focus from the London office,” Hagen told Private Equity International, noting it would help prevent Advent missing out on Nordic news flow or gossip. “I am spending the majority of my time applying some infrastructure and systems around that effort in addition to working alongside our sector teams in their efforts in identifying and reviewing opportunities in the region.”

In addition to these two appointments, Advent has recruited two more associates from the Nordic region to join them at the London office in the summer. 

“This substantiates an interest we have had over a period of time. We have invested in the region for about 20 years but recently we haven’t invested not because we haven’t been interested but because we haven’t found the right opportunities,” said Hagen.

Advent’s investment experience in the region includes the acquisition of pan-European TV and radio broadcaster Scandinavian Broadcasting Systems and the 2011 acquisition of talc producer Mondo Minerals.