FINLAND - Finnish local government pensions institution, KEVA, and insurance company, Etera, have allocated to private equity.
According to official documents, KEVA's investment strategy, including private equity, is based on long term planning.
It stated: "A long investment horizon enables the construction of a portfolio where one can take quite significant short term risks if, to balance that, there is an even higher long term return expectation.
"In practice, this means, for example, a high equity exposure and that the portfolio can contain a significant amount of private equity fund investments."
KEVA has a global portfolio, although around 70% of investments are situated in Europe.
The portion of Finnish investments has been lowered gradually as the capital has increased, but Finland is still "a big investment opportunity" for the fund, which at the end of 2007 had around a fifth of its investments in Finland.
The Ä6.1bn Etera made private equity commitments to funds handled by six new managers.
The new private equity fund managers are Sterling Partners, The Jordan Company, Morgan Stanley Investment Management, Industri Kapital, UOB Global Capital and LGT Capital Partners.
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