Segulah, a Swedish mid-market private equity house, has more than doubled the size of its previous fundraising after closing its fourth fund on €540m ($770m) after only seven weeks, as investors remain positiive on the outlook for the Nordic region despite tougher buyout conditions elsewhere.

Segulah issued its private placement memorandum – the document used by private equity firms to officially market their funds – seven weeks ago in September, when turmoil in the global credit markets caused a dramatic slowdown in private equity investing and hampered several large-cap deals.