Hermitage

Hermitage is a Finnish family office specializing in global equity investments, encompassing private equity, venture capital, listed equities, and direct investments. The firm is headquartered in Helsinki, Finland, and operates with a diverse portfolio that spans multiple asset classes and investment stages. Their investment approach is characterized by a focus on value creation and active involvement in portfolio companies. The firm's private equity investments primarily target buyout funds, while in venture capital, Hermitage prefers first-time or emerging managers who add value through differentiated deal sourcing and hard work. Their investment criteria include deal sourcing credibility, team structure and incentivization, viability of the strategy, and track record. In listed equities, Hermitage seeks differentiated alpha from managers in niche areas, such as country-specific small capitalization stocks, emphasizing unique opportunities and excellent fund management. Hermitage's direct investments are typically made into associate companies, with a history of successful investing in financial services companies. The firm is open to other areas and looks for good growth opportunities, excellent management, and solid business concepts. Notable direct investments include Taaleri, Blic, and Futurice. Hermitage is an active investor, willing to add value to associate companies through strategic planning and board work when needed.

Deal sourcing credibility, Team structure and incentivization, Viability of the strategy, Track record, Unique or differentiated opportunities, Excellent fund management, Good growth opportunities, Excellent management, Solid business concepts