Vaaka gears up for €200m fundraise – Exclusive

The lower mid-market Finnish buyout firm has added EQT’s Ville Koskenvuo to its team in Helsinki.

Finnish mid-market firm Vaaka Partners has hired EQT director Ville Koskenvuo as the firm prepares to raise its third buyout fund.

The firm has almost fully deployed its €150 million, 2013-vintage second fund, according to market sources, and is understood to be in discussion with investors about launching a follow-up fund with a target of €200 million. Vaaka Partners declined to comment on fundraising plans.

Investors in the firm’s current fund are split roughly 50-50 between Finnish and European institutions, and include the likes of fund of funds SL Capital Partners and Coeli Private Equity, Finnish government-related investors, SITRA and Finnish Industry Investment, as well as Finnish pension Ilmarinen, according to PEI data.

The arrival of EQT’s Koskenvuo as partner at the firm brings the team headcount to 15, 12 of whom are investment focused and seven of whom are partners. The firm, which is led by managing partner Juha Peltola, invests in Finnish businesses with a view to achieving growth through international expansion and buy and build. It previously sold a stake in a portfolio company – pet store Musti ja Mirri – to EQT in 2014. Vaaka retains a minority stake.