October 2026
Largest Asset Management Public Companies in Finland
Benchmark revenue and EBITDA valuation multiples for public comps like
Mandatum, EVLI, eQ, CapMan and Auroora Group.
 | Mandatum PLC is a financial services provider that combines expertise in wealth management and life insurance. It offers clients a wide array of services covering asset and wealth management, savings and investment, compensation and rewards as well as pension plans and personal risk insurance. The reportable segments are: Institutional & wealth management, Corporate clients, Retail clients and With-profit business. At the transaction date, the organisation operated in Asset Management and participated through the products, services, assets or investment capabilities described in the cited materials. It served B2B and B2C customers, users or counterparties through those activities. Its commercial model generated revenue through product sales and investment management, supported by sector expertise, operating execution and customer relationships. The business depended on its people, technology, physical assets, regulatory position or investment capital as appropriate to the sector. This profile identifies the legal or operating participant in the historical transaction and preserves that identity where a later merger, disposal, delisting or reorganisation changed the company’s name or ownership. | $7 | -7% | $3.4B | $3.2B | 2.9x | 13.6x | ||
| Evli PLC is engaged in asset management. The product and service offering includes mutual funds, asset management, capital markets services, alternative investment products, equity research, planning and administration of incentive programs, and Corporate Finance services. The company operates in two segments: Wealth Management and Investor Clients; and Advisory and Corporate Clients. It has a geographical presence in Finland, Sweden, and Other countries of which it generates the majority from Finland. | $27 | +9% | $716M | $871M | 5.6x | 12.4x | ||
| eQ PLC is a Finnish group of companies that concentrates on asset management and corporate finance operations. The group offers its clients services related to mutual and private equity funds, discretionary asset management, structured investment products, investment insurance policies, and a large range of mutual funds offered by international partners. The groups' functional segments are Asset management, Corporate finance, and Investments. The company's core revenues are generated from its Asset management division, secondary revenues from Corporate finance and the least amount is derived from its Investments business. | $9 | -29% | $376M | $364M | 5.4x | 11.4x | ||
| CapMan Oyj iis a private asset management firm operating in the Nordic region. It manages investments across real estate, infrastructure, natural capital, and unlisted companies, and invests in properties and other assets with potential for redevelopment, repurposing, or long-term value creation. The majority of the company's revenue is derived from management fees, which are variable consideration and are typically based on the fund's original size during its investment period. | $2 | -5% | $355M | $422M | 6.0x | 14.8x | ||
| Auroora Group PLC is engaged in owning, acquiring, and developing small and medium-sized enterprises. The company's objective is long-term earnings growth and high returns on invested capital, achieved by reinvesting subsidiaries' cash flows into new acquisitions and organic growth. The company operates in segments namely Electrification and Automation, Clean Water and Environmental Technology, Industrial Products and Services, and Other operations. The company derives majority of its revenue from Electrification and Automation segment engaged in developing new energy-efficient technologies and integrated intelligent electricity systems and networks with their partners that enables the maximization of energy efficiency. | $12 | -- | $346M | $369M | 1.4x | 17.1x | ||
| United Bankers Oyj provides investment products and services. The company has two business areas, wealth management and capital markets services. In wealth management, the Group specializes in real asset investments including forest real estate, and infrastructure funds. The majority of the income from operations is generated by the wealth management segment, whose customers include individuals, companies, and institutions. | $25 | +21% | $279M | $342M | 5.9x | 14.8x | ||
| Taaleri is a Helsinki-based publicly listed asset manager founded in 2007. It develops and manages private-market investment products focused on renewable energy, bioindustry, real estate and other alternative assets. Institutional and private investors commit capital to Taaleri-managed funds, while its teams source projects, arrange financing, oversee construction and manage operating assets. The group earns recurring management fees and performance-linked investment returns, alongside income from its Garantia credit-insurance subsidiary. Taaleri has developed wind and solar portfolios across Europe, the United States and emerging markets and has co-invested with strategic partners such as Masdar. Its renewable-energy funds can acquire project companies and operating assets while keeping day-to-day portfolio management within the Taaleri platform. | $8 | -1% | $232M | $222M | 3.9x | 8.6x | ||
| Alexandria Group Oyj formerly Alexandria Pankkiiriliike Oyj is a investment service company in Finland. It specializes in high-quality investment and savings solutions. | $15 | +31% | $168M | $174M | 2.9x | 11.0x | ||
| Arvo Sijoitusosuuskunta is an enabler of growth. Its investments are directed toward Finnish small and medium-sized enterprises seeking growth in their operations. Arvo takes an active role in developing target companies and enabling industry consolidation. It makes investments as minority equity investments, loan investments, or a combination of both. In addition, it can offer short-term bridge financing for a maximum period of 24 months. The majority of the returns from its investment activities are distributed to members as cooperative interest. | $88 | +8% | $72M | $79M | 2.6x | 11.7x | ||
| Titanium Oyj through its subsidiaries provides investment in real estate, mutual fund operations, asset management and insurance business. | $6 | -11% | $65M | $56M | 2.5x | 6.8x | ||
| Springvest Oyj is engaged in investing in unlisted growth companies which were only possible for angel and venture capitalists investing large sums. | $9 | +15% | $52M | $52M | 8.0x | 38.7x | ||
| FX International AB is engaged in currency trading through algorithm-driven computer program with goal to maximize return on its capital for shareholders. The company's business model focuses on algorithm-driven trading using artificial intelligence within the foreign exchange market. It also have trading platform namely, Genova FX. | $0 | -35% | $781K | $681K | 16.2x | (2.3x) | ||
| Median | $9 | -1% | $256M | $282M | 4.6x | 12.0x |
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