Altor Equity Partners, a buyout firm that focuses on the Scandinavian region, is preparing to raise €2bn ($3.1bn) for its next fund despite receiving indicative interest for substantially more investment on the back of its record in Nordic mid-market deals.

Harald Mix, who founded Altor after splitting the business from peer Industri Kapital in 2003, has decided to follow the lead of peers such as EQT, Nordic Capital and IK, by concentrating on the Nordic region rather than expanding geographically. Altor has hired Monument Group as its sole placement agent after delivering more than three times investors’ money since it was founded.