Finnish firm Pohjola Private Equity Funds has held a second close for its first fund of p.e. funds. The Selected Private Equity Funds I raised €119 million (US$176 million), and will remain open to new investors until June 2008, or until it reaches its hard cap of €180 million (US$267.4 million).
Commitments were secured from a total of 18 institutional investors.
The fund, which invests in European small- and middle-market buyout funds, has made five investments in its core market.
Pohjola is based in Helsinki and manages almost €1 billion (US$1.5 billion) in private equity assets for the Selected Private Equity Funds I and its other asset management investors.