May 2026
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Largest Asset Management Public Companies in Finland
Benchmark revenue and EBITDA valuation multiples for public comps like
Mandatum, eQ, CapMan, United Bankers 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. | $7 | +2% | $3B | $3B | 2.5x | 13.1x | ||
| 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. | $11 | -9% | $470M | $454M | 6.4x | 13.5x | ||
| CapMan Oyj is a Nordic private equity investor. The company operates extensively in the non-listed market. Its business segments include Management company business, Service business, Investment business, and Others. In the Management company segment the company manages private equity funds that are invested by its partnership-based investment teams, The Services business includes sourcing and purchasing, fundraising, analysis, reporting, and asset management services whereas, Through its Investment business, CapMan invests from its balance sheet in the private equity asset class and listed markets. The majority of the revenue is generated from the Management company business segment. | $2 | -3% | $370M | $413M | 5.5x | 12.6x | ||
| 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. | $24 | +21% | $263M | $267M | 3.9x | 11.5x | ||
| 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. | $8 | -- | $253M | $318M | 1.2x | 11.7x | ||
| Taaleri PLC operates as a financial group. It operates in two segments:: Private Asset Management and Garantia. The Private Asset Management segment consists of bioindustry, renewable energy and real estate businesses. The Garantia segment includes Garantia Insurance Company. | $9 | +7% | $246M | $235M | 3.1x | 7.2x | ||
| Alexandria Group Oyj formerly Alexandria Pankkiiriliike Oyj is a investment service company in Finland. It specializes in high-quality investment and savings solutions. | $13 | +20% | $146M | $151M | 2.4x | 8.8x | ||
| Titanium Oyj through its subsidiaries provides investment in real estate, mutual fund operations, asset management and insurance business. | $7 | +3% | $76M | $62M | 2.6x | 7.2x | ||
| 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. | $87 | +27% | $71M | $82M | 2.6x | 9.5x | ||
| Springvest Oyj is engaged in investing in unlisted growth companies which were only possible for angel and venture capitalists investing large sums. | $9 | +4% | $51M | $49M | 7.0x | 34.8x | ||
| 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 | -26% | $973K | $845K | 76.5x | (2.9x) | ||
| Median | $9 | +3% | $246M | $235M | 3.1x | 11.5x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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