– On August 30th, 2024, Cubera Private Equity’s Nordic secondaries fund, Cubera X, had its final close, raising over EUR 800m.
– The fund surpassed its target size of EUR 700m and was oversubscribed at the hard cap of EUR 780m in external capital.
– Together with the GP commitment, the total fund size reached EUR 807m.
– Reidun Tysseland, Managing Partner of Cubera Private Equity, expressed gratitude to existing investors and welcomed new blue-chip institutions.
– More than 50% of the capital for Cubera X came from investors outside the Nordic region, marking further institutionalization of its investor base.
– The Nordic private equity market continues to grow, with significant increases in assets under management and expansion of the Nordic secondary market.
– Cubera X has already committed approximately 25% of its total fund size to seven Nordic secondary transactions.
– Johan Nord, Cubera’s Head of Nordic PE, noted that deal flow has improved, allowing the acquisition of positions in top Nordic buyout funds at discounts.
– Cubera’s market position gives it a competitive edge in both secondaries and primaries.
– Cubera has seen EUR 1 billion of inflows across all strategies in the past 12 months, fueling its growth ambitions.
– To support this growth, two senior professionals have joined the team:
– Pontus Elmér as Head of Capital Formation, responsible for growth across all strategies, with previous experience at EQT.
– Mikael Falck, CAIA as a Partner in the Nordic investment team, contributing to the development of the Nordic Primary fund of funds strategy and serving on the Investment Advisory Committee for Cubera PE V, set to launch this autumn.
