Nordea AM: USD 900 million raised for the first fund of its venture Trill Impact
Stockholm — Trill Impact, an independent private investment firm backed by Nordea Asset Management (NAM), has closed its first Impact Mid-Market Buyout Fund (“the Fund”) following $900 million in placements by prominent institutional investors worldwide. One of the largest first-time funds raised by an independent investment firm during the global pandemic.
Trill Impact was founded in 2019 by Jan Ståhlberg (photo ) with support from Nordea Asset Management (NAM). Today, it is one of the largest specialized impact investment houses in Europe, with more than $1 billion in assets under management across its private equity and microfinance investment advisory strategies. This will combine the extensive private equity experience of the Trill Impact team with NAM’s deep expertise in impact analysis and fundraising capabilities to bring best-of-breed private impact investments to market.
Through its strategic partnership with Nordea Asset Management, a pioneer and market leader in responsible investment, Trill Impact works with NAM’s Responsible Investment team and NAM’s global Investor Relations (IR) and Fundraising team across Europe and overseas markets.
Although the fundraising occurred at unprecedented times during the global pandemic, the fund is one of the largest in terms of capital commitments raised by an emerging manager since the global financial crisis. It is also one of the largest first-time funds raised by an independent investment firm during the global pandemic.
Since the fund’s inception, four transactions have been completed by the fund, all targeted investments in Northern Europe aimed at generating returns in private equity markets and lasting, measurable impact. Trill Impact embarks on a journey with portfolio company management teams to nurture and transform companies to reach their full impact potential.
The fund’s advisory board consists of, among others, AP4 (Fourth Swedish National Pension Fund), AP6 (Sixth Swedish National Pension Fund), Allianz Global Investors, New York Life Insurance Company, Lucie and André Chagnon Foundation, Velliv, Pension & Livsforsikring A/S and Nordea Life & Pensions.
“Our mission was to generate revenue with accountability. That’s what has driven our business with Trill Impact. By joining our respective forces, we aim to provide investors with world-class private equity and ESG expertise, as well as the opportunity to participate in the change they find meaningful in the world. We are pleased that many prominent investors have recognized the value of this partnership and believe that this initial success paves the way for future growth of the Trill Impact offering,” says Nils Bolmstrand, CEO of Nordea Asset Management.
Jan Ståhlberg, Founder and Managing Partner of Trill Impact, adds, “My goal for Trill Impact since its inception has been to create a thought leader for positive change through impact investing, enabling like-minded investors to actively contribute to a better world and inspiring others to join in. I am convinced that together with Nordea Asset Management and the fund’s investors, we have now laid the foundation for future success.”
About Trill Impact
Trill Impact is an impact house with more than €1 billion in assets under management in its private equity and microfinance advisory strategies. Trill Impact Advisory, the exclusive investment advisor to the Trill Impact Fund, employs a team of more than 20 experienced professionals based in Sweden and Germany. Driven by a culture with a high sense of urgency, Trill Impact aims to become a force for positive change and achieve its vision of delivering real returns and sustainable impact for the benefit of investors, businesses and society at large.