Nordic Capital

About Nordic Capital

Nordic Capital is a Nordic private equity firm with €34 billion of assets under management across 13 active funds as of December 2024, headquartered in Stockholm with offices across the Nordics, Frankfurt, London, New York and Asia. The firm was founded in 1989 as an independent partner-owned platform built around operational value creation, and has expanded from a Nordic-focused mid-market specialist into a global mid-market and upper-mid-market buyout franchise. Nordic Capital Evolution II closed at its €2 billion hard cap in December 2024.

Investment thesis

Nordic Capital deploys capital through 13 active funds spanning Nordic Capital flagship buyout (Fund XI investing at €9 billion, Fund X, Fund IX) and Evolution mid-market platform (€3.2 billion committed across Evolution I and II), with strategic focus on healthcare, technology and payments, financial services and services and industrial tech. Geographic deployment combines Nordic core with selective expansion into DACH, UK, North America and Asia from 11 offices across three continents. The firm's operational excellence engine drives approximately 80% of value creation through portfolio earnings growth rather than financial engineering, with five PEI Operational Excellence Awards and top UNPRI ESG scores reflecting the differentiated approach.

Recent activity

Recent realised exits include Clario (healthcare, 2025, announced as the largest global healthcare PE exit of the year), NOBA (financial services IPO, 2024), Sunrise Medical (healthcare and medical devices, 2024) and an additional healthcare realisation in 2024. Recent acquisitions include Evosep (life sciences and proteomics, 2025), Arcadia (healthcare data analytics, 2025) and IntegriChain (healthcare and pharma tech, 2024). Nordic Capital continues to deploy capital across its Fund XI vintage while expanding the Evolution mid-market platform. Detailed buyer names and multiple data available on Pro at €29/month.