Finnish buyout fund raises €50m

Sentica Partners’ third lower mid-market buyout fund is halfway to its €100m target with backing from investors, including government-owned investment company Finnish Industry Investment.

Finnish private equity firm Sentica Partners has held a first close on €50 million for the Sentica Buyout III fund en route to a target of €100 million.

The entirety of the capital was raised from existing investors. The largest commitments were from government-owned Finnish Industry Investment, Ilmarinen Pension Insurance company and Etera Mutual Pension Insurance Company.

Sentica now has €115 million under management across three lower mid-market buyout funds. The funds focus on equity investments of €4 million to €12 million targeting Finnish companies in the industrial, business services and IT sectors with enterprise values between €15 million and €50 million.

The firm’s portfolio includes industrial insulation company Arme, information management company Kronodoc and identity technology company Idesco.

In addition to its buyout funds, Sentica manages €55 million in assets across 12 regional small cap funds and a healthcare technology fund that has raised half of its €60 million target.

Sentica’s investment teams operate out of five offices throughout Finland.