Summa Equity closes its third fund at EUR 2.3 billion

Mannheimer Swartling has acted as lead legal counsel for Summa Equity in connection with the structure, fundraising and establishment of its third fund, Summa Equity Fund III, which closed at its hard cap of approx. EUR 2.3 billion. The fund was closed in record time and was oversubscribed within four months.

Summa Equity was founded in 2016 and is a private equity firm with the mission of investing to solve global challenges in line with the United Nations’ Sustainable Development Goals. Summa Equity Fund III represents a scale-up, with an extended investment mandate to invest across a more expansive geographical remit and to also invest in primary capital in growth companies. The fund is backed by a strong investor base of top-tier pension funds, insurance companies, foundations and endowments, financial investors and family offices with global representation including Canada, the United States, the Nordics, the United Kingdom, DACH, France, Benelux, Singapore, Japan and Australia. The fund is, as its predecessor funds, based on a Swedish AB-structure, where the investors invest through either principal-linked participating debentures or preference shares.