Finnish Industry Investment has promoted Anne Riekki to investment director. She joined the group in early 2007.
Finnish Industry Investment Ltd’s Investment Manager Anne Riekki, LLM, MSc (Econ), has been appointed Investment Director. Ms Riekki started with Industry Investment’s fund investment team in early 2007 and has lately prepared numerous investments in foreign funds showing interest in Finnish companies.
“In early summer Industry Investment made its first investment in the secondary investment market – some MEUR 10 in Verdane Capital VII, a fund that acquires portfolios of investments in the Nordic region.”
“It’s also pleasing to see that the funds of Finnish management companies have succeeded in obtaining commitments from foreign investors also, despite the challenging market climate.”
Of Industry Investment’s total of MEUR 600 in investment commitments, fund investments currently account for some MEUR 550. Of this, some 18% is in early-stage funds, 45% in growth funds, and 17% in buyout funds; in addition, Start Fund I Ky, which is managed by Industry Investment accounts for 10% of fund investments and Kasvurahastojen Rahasto Ky fund jointly established with Finnish pension institutions accounts for another 10%.
Finnish Industry Investment Ltd is a government-owned investment company that invests the proceeds accrued from the privatisation of state-owned companies in funds and directly in growth companies. Capital investments are needed for financing growth, internationalisation, spin-offs, major industrial investments, and sector and corporate restructurings. Investment targets are in all sectors. The company co-invests with private investors, limiting its investment to at most one-half of the capital invested and of the ownership. The investments of Finnish Industry Investment amount to some MEUR 600. www.industryinvestment.com