Armada Credit Partners appoints Niina Bergring to lead the firm’s institutional Investor Relations and Operations

Finland headquartered Armada Credit Partners has repeatedly proven to be one of the most successful private debt funds in Europe. The firm has been top-ranked in the EMEA region for two consecutive years. With this new hire, Armada strengthens its ability to serve European institutional investors.

Niina Bergring, now chosen to lead Armada’s investor relations and fundraising, brings extensive international experience in institutional investment management along with excellent networks across Europe. Her work will focus on Investor Relations and fundraising, in addition to serving as a member of the firm’s Investment Committee.

Bergring adds broad expertise to institutional investor coverage and brings macro-level insight into financial markets and portfolio construction. The appointment strengthens Armada’s institutional capabilities and supports the development of the firm across investment execution, portfolio oversight, operations, and investor engagement, says Armada’s co-founder and CEO Ilkka Santti.

Armada’s investment promise is to support pioneers of the green and digital transition by enabling business growth through Armada financing. ESG considerations are an integral part of investment decision-making. Slightly over half of Armada’s portfolio companies are Swedish and Finnish, and the rest are based in Denmark, Norway and Germany.

During my approximately two years on Armada’s board, I have come to understand a strong operating model that enables us to provide agile financing to growth companies and deliver an excellent risk/return profile for investors. My goal is to position Armada as the Private Debt pioneer in the Nordics, which in reality we already are. The Nordic private debt market is still underdeveloped, and Armada has significant market potential to serve companies in financing gaps profitably across the Nordics and Continental Europe, says Niina Bergring.

The role of Private Debt funds in financing growth companies is evolving rapidly

Over multiple fund vintages, Armada has developed a repeatable approach to mid-market private credit by combining proprietary sourcing, disciplined underwriting, and active portfolio management. The investment strategy emphasises robust structuring that enables attractive return potential alongside effective downside protection. Armada’s direct investments consistently combine 80 – 90% debt and 10 – 20% direct equity. The investment data and analytics firm PitchBook ranked Armada as the top private debt fund in the EMEA region in 2023 and second in 2024.

The equity component of investments has delivered exceptionally strong performance, clearly exceeding average equity fund returns, while the debt component has delivered a strong and stable return through the cycle, Ilkka Santti notes.

The Private Debt market in Europe has grown dramatically over the past five years, from approximately €150 billion to over €500 billion. According to Bergring, increasing funding to growth companies is an economic priority and Private Debt provides excellent conditions to achieve this.

The growth of the Private Debt market is partly due to reduced risk appetite among banks, which simply cannot finance certain targets. Therefore, the market requires financing expertise and the ability to price risk and generate returns. With equity market valuations high, Private Debt offers an attractive risk/return profile in an uncertain market environment. Allocation to the unlisted market continues as investors seek diversification and a more attractive risk/return profile, Bergring assesses.

Armada’s investors include insurance companies and pension funds. One anchor investor is the European Investment Fund (EIF) under the European Investment Bank. Consequently, Armada Fund VI invests only in companies whose business contributes to reducing carbon emissions and advancing the green or digital transition. Other anchor investors include Finnish institutional investors such as the State Pension Fund and the pension company Elo.

Our promise to investors is to support pioneers of the green and digital transition, where our investment enables business growth. Investment activity always focuses on returns, with ESG factors integrated into return generation. Responsible and sustainable business is an essential part of Armada’s investment process DNA, Bergring explains.

For further information:

Niina Bergring
Partner
Investor Relations & Operations
+358 40 822 1514
niina.bergring@armadacredit.com

Ilkka Santti
Joint Managing Partner
+358 40 700 2876
ilkka.santti@armadacredit.com