Your Nordic Private Equity Partner

Cubera is the leading private equity fund-of-funds manager in the Nordic region. Cubera has more than 25 employees in Oslo and Stockholm and manages assets of EUR 4.5 billion. Cubera offers a broad range of specialized private equity funds; three primary programs covering International, Nordic and Impact strategies and one Nordic secondary program.

Go to Secondary Investments

 

Well-proven investment strategies

Cubera’s different funds and mandates are all based on consistent and well proven investment strategies continuously being developed and becoming increasingly sophisticated. Currently, Cubera advises on four distinct buyout strategies:

  • Secondary acquisitions of shares in Nordic buyout funds (including co-investments)

  • Primary commitments to international buyout funds

  • Primary commitments to Nordic buyout funds

  • Primary commitments to international impact funds

Strong performance

The buyout sector has grown significantly over the last decades driven by high absolute return. Outperforming the market requires significant resources and specialized investment skills, as the industry is characterized by significant spread in returns and the fact that private equity is “private”.

Cubera has over the last decades delivered consistent net return in the high tens across all strategies, hence consistently placing itself in the upper quartile of its international peers. The focused buyout strategies and distinct processes enable Cubera to reduce risk premiums and offer attractive returns.

Experienced team

Cubera has a highly experienced and stable investment team comprising 32 professionals based in Oslo and Stockholm. The senior partners have on average more than 20 years of private equity experience.

Cubera is built on long-term relationships. With the international and Nordic private equity programs established in 1999 and 2006 respectively, Cubera has built a deep network, superior knowledge and access to attractive managers worldwide.

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Primary Investments

tailored strategies with global reach

With many years’ experience and proven success in Nordic and International private equity investments, we dare to claim that Cubera is the leading private equity fund selector in the Nordics.
Through focused primary strategies, Cubera channels investors’ capital to the best PE managers available for each vintage.

Primary investments offer exposure to Nordic managers through the Nordic program, or to managers globally through either the International Private Equity program or the Impact program.

 
 

“We are committed to continuing to raise the bar to deliver best-in-class results for our investors“

Thomas Wold
CIO, Primary Investments

 

Having a well-established network of private equity managers is an important requisite for successful primary investment - but it is far from the only success factor.
Selecting the best private equity managers is a complex exercise, requiring extensive capacity to analyze in depth the competencies, success factors and risks of an external manager along with the skill to understand how track record and characteristics may translate into superior future performance.

Cubera maintains and continuously develops its network of managers across the globe to secure we have access to the widest possible array of investment opportunities. We apply our proprietary investment process to source and screen our pipeline, prioritize and analyze investment options and select the most suitable cases for investment.

Behind this work is a very capable team with a genuine passion for private equity and a drive to deliver great results on behalf of investors.

 
 
 

The Team

 

International Primary

The strategy offers a tailored exposure to global private equity through annual-vintage funds, mainly focusing on US and European buyout.

Cubera International has invested EUR 2 billion since 1994 and raised 20 closed-end vintage funds. By leveraging our international network of top-tier PE managers and our manager selection experience, we construct portfolios of 8-12 of the best funds raised in any given vintage. The strategy may also opportunistically enhance its exposure through co-investments and acquisitions of LP interests in the secondary market.

 

Nordic Primary

Cubera’s Nordic Primary strategy was established in 2017 and is built upon decades of Nordic private equity investment experience. Storebrand’s private equity division, now part of Cubera, began investing in the Nordics in 1994. Cubera Private Equity was founded in 2006 but the founding partners had already built significant experience with PE investments in the Nordics.

Through this strategy Cubera leverages its unique position in Northern Europe to tailoring portfolios of top-quality Nordic buyout funds through efficient selection.

A primary fund will typically make commitments to 8-10 quality buyout funds over the investment period, which normally spans over 2-3 years. A fully invested primary fund will be exposed to a portfolio counting approximately 100-150 companies. The strategy has a broad sector exposure.

 

Impact

Cubera defines Impact as investments made with the intent to generate positive and measurable environmental and/or social change alongside attractive financial return. Through Cubera’s focus on the growth/buyout segment of private equity, we are well positioned to address gaps in the impact space which are unreachable through the public markets.

The purpose of the Impact primary strategy is to allocate capital to leading impact initiatives to create value beyond return. The strategy was launched in 2021 and focuses on making investments to accelerate solutions for a sustainable transformation, drive inclusive growth, and advance disruptive technology.

The strategy invests globally, and sector exposures relate to the aforementioned objectives.

 

Secondary Investments

capturing opportunities for immediate mature exposure

With many years’ experience and proven success in Nordic and International private equity investments, we dare to claim that Cubera is the leading private equity fund selector in the Nordics.
Through focused primary strategies, Cubera channels investors’ capital to the best PE managers available for each vintage.

Primary investments offer exposure to Nordic managers through the Nordic program, or to managers globally through either the International Private Equity program or the Impact program.

 
 

Having a well-established network of private equity managers is an important requisite for successful primary investment - but it is far from the only success factor.
Selecting the best private equity managers is a complex exercise, requiring extensive capacity to analyze in depth the competencies, success factors and risks of an external manager along with the skill to understand how track record and characteristics may translate into superior future performance.

Cubera maintains and continuously develops its network of managers across the globe to secure we have access to the widest possible array of investment opportunities. We apply our proprietary investment process to source and screen our pipeline, prioritize and analyze investment options and select the most suitable cases for investment.

Behind this work is a very capable team with a genuine passion for private equity and a drive to deliver great results on behalf of investors.

 

“We are committed to continuing to raise the bar to deliver best-in-class results for our investors“

Thomas Wold
CIO, Primary Investments

 
 

The Team

 

International Primary

The strategy offers a tailored exposure to global private equity through annual-vintage funds, mainly focusing on US and European buyout.

Cubera International has invested EUR 2 billion since 1994 and raised 20 closed-end vintage funds. By leveraging our international network of top-tier PE managers and our manager selection experience, we construct portfolios of 8-12 of the best funds raised in any given vintage. The strategy may also opportunistically enhance its exposure through co-investments and acquisitions of LP interests in the secondary market.

 

Nordic Primary

Cubera’s Nordic Primary strategy was established in 2017 and is built upon decades of Nordic private equity investment experience. Storebrand’s private equity division, now part of Cubera, began investing in the Nordics in 1994. Cubera Private Equity was founded in 2006 but the founding partners had already built significant experience with PE investments in the Nordics.

Through this strategy Cubera leverages its unique position in Northern Europe to tailoring portfolios of top-quality Nordic buyout funds through efficient selection.

A primary fund will typically make commitments to 8-10 quality buyout funds over the investment period, which normally spans over 2-3 years. A fully invested primary fund will be exposed to a portfolio counting approximately 100-150 companies. The strategy has a broad sector exposure.

 

Impact

Cubera defines Impact as investments made with the intent to generate positive and measurable environmental and/or social change alongside attractive financial return. Through Cubera’s focus on the growth/buyout segment of private equity, we are well positioned to address gaps in the impact space which are unreachable through the public markets.

The purpose of the Impact primary strategy is to allocate capital to leading impact initiatives to create value beyond return. The strategy was launched in 2021 and focuses on making investments to accelerate solutions for a sustainable transformation, drive inclusive growth, and advance disruptive technology.

The strategy invests globally, and sector exposures relate to the aforementioned objectives.

 
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