Nordea Life & Pensions

About the fund

The fund targets companies with annual revenues of EUR 15–300 million based in the Nordics, DACH, and Benelux, seeking ownership control with a collaborative approach. The investment approach is organized around three overarching impact themes — Sustainable Planet, Healthy People, and Resilient Society — integrated through a sector-agnostic process tied to relevant megatrends and SDGs. Impact is assessed using a proprietary rating model based on the Impact Management Project's five dimensions (What, Who, How Much, Contribution, Risk), which categorizes investments as either "benefit stakeholders" or "contribute to solutions." Each portfolio company receives a bespoke Value Creation Impact Plan post-investment. A distinctive feature of the fund is that carried interest is linked to impact and ESG targets, reflecting Trill Impact's conviction that financial and impact performance are mutually reinforcing. The fund reached a final close of EUR 900 million, making it one of the largest first-time funds raised during the COVID-19 pandemic by an independent private investments firm.