Key Takeaways from the Nordic Private Equity Breakfast in Oslo
November 2025
The event brought together representatives from local and international private equity and venture capital firms for discussions and networking around the latest Nordic private equity market trends and strategic insights.
The panel discussion was moderated by Poul Pedersen, Executive Chairman, Pedersen & Partners, and Frode Olsen, Partner, CMS Kluge Advokatfirma AS.
Panelists included:
- Endre Folge - Partner & CEO, Union
- Joachim H. Høegh-Krohn - Partner & CEO, Turnstone
- Gudmund Killi - Managing Partner, Credo Partners
- Tom Even Mortensen - Managing Partner, Sandwater
- John-Even B. Øveraasen - Managing Director, Levantor
- Ingrid Teigland Akay - Managing Partner, Hadean Ventures
- Eirik H. Wabø Wabø - Principal, FSN Capital
Key takeaways from the event:
- The exit volumes and Distributed to Paid-In Capital (DPI) values are below historic levels which is a problem. Quality assets are easy to exit, but the overall exit environment is challenging, resulting in an increased use of continuation funds and a strong secondary market.
- The life sciences sector sees however a good exit environment
- Fund raising is not easy, but fund managers with strong brands and recent strong exit track record/DPI are closing new funds successfully. Raising venture capital funds is more difficult than raising private equity funds currently.
- Diversity of management teams is an established, integrated part of the value creation effort in the Nordics
- External factors like interest rate levels and an unpredictable political environment were highlighted as most important.
- During the last 6 months there has been a clear uptick in M&A activity. All the members of the panel expressed a positive view on the outlook for 2026.
We thank all who attended and contributed to an engaging and thought-provoking morning.