References/17 Jan 2023

Borenius advised Mandatum Asset Management as it raised a new growth fund

We advised Mandatum Asset Management on the formation of MAM Growth Equity II, the second vintage of its growth equity strategy, which continues to accelerate the growth and internationalisation of Finnish and Nordic companies.

MAM Growth Equity II primarily invests in Finnish growth companies with a turnover in the range of EUR 10–100 million. The new fund seeks to diversify its investments across industries where MAM sees opportunities for structural growth. MAM is an active minority owner, and its commitments range from EUR 10 to 30 million, which is clearly higher than that of other Finnish growth funds. MAM aims to actively develop its portfolio companies to enable their growth and internationalisation.

Mandatum Asset Management is one of Finland’s largest growth investors, and private equity is one of its key focus areas.

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Paulus Hidén



Henri Ruotsalainen



Tuukka Tolvanen

Senior Associate