Translation: Original published in Finnish on 10/20/2026 at 8:23 am EEST.

Taaleri announced on Monday that it will launch its new private credit business at the beginning of November, led by an experienced team. Marjo Koivisto has been appointed Managing Director of the business, and Helen Taflin has been appointed Chief Investment Officer, both of whom have extensive backgrounds in alternative investments and the private credit market. Christian Reiner, who previously built PCP, a major private credit company, has been appointed as an advisor. News of the business launch was an expected step in the company's growth strategy, as Taaleri had already announced its expansion in April.

Taaleri's new Private Credit strategy focuses on direct lending to small and mid-sized companies in the Nordics. According to our estimates, the company will begin raising funds for the fund before the end of this year, but the first closing will not occur until next year. We estimate that the target size of the first fund will exceed 100 MEUR, and the company will certainly seek an international investor base from the outset.

While the investment area itself is interesting and offers Taaleri a new foothold in alternative investments, we believe that the company's distribution power outside renewable energy remains unproven. Over the past year, the company has invested in building its own distribution capacity, and it will face a major test in fundraising as it seeks to raise capital from a completely new and highly competitive investment area. We have discussed the segment's outlook in more detail in our recent extensive report, which can be read here.