Nordic Capital has taken a small minority stake in listed Stockholm-headed bank Nordax.

The firm has bought around 10 per cent of the the business and has an option to acquire around 5 per cent more.

Nordax was listed in Stockholm by US private equity firm Vision Capital in 2015, who completed their exit from the business earlier this year, from which they made a 5.2x return.

The bank is a specialist consumer lender focused on large, long-term personal loans and deposit accounts. It has around 120,000 loan customers and 28,000 savings customers. Its current market capitalisation is approximately SEK5bn (€520m).

Nordic Capital recently announced its intention to float its mobility services business Handicare on Nasdaq Stockholm.

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