Summa Equity closes a SEK 4.5bn fund, Summa Equity Fond I.

Summa Equity is a Swedish private equity company launched by bormer Altor and Nordic Capital veterans, Reynir Indahl, Johannes Lienm and Jenny Keisu in 2016.

In winter of 2017, Summa announced closing its first fund, Summa Equity Fond I, totalling SEK 4.5bn ($500M), aimed at making about 12 investments, taking stakes of 80% or more and committing equity tickets in the €10-50m range, with the average commitment likely being around €35m.

The firm's strategy will differentiate itself from its Nordic competitors in the small- and mid-cap spaces by its sectoral approach and pan-Nordic investment strategy, in a space where most funds are generalist players with a single-country focus

Summa Equity Fond I (SEF I) is backed by a combination of pension funds, foundations, insurance firms, fund-of-funds and endowments – such as University of Michigan, which committed SEK 345m, according to University documents. LPs in the fund are based in the Nordic region, Europe and North America.