Key Takeaways
- • McKinsey's joint private equity initiative in the Nordic market, Felicity & Equity, has stalled, according to people familiar with the matter cited by the Wall Street Journal.
- • The buyout platform was established in 2024 in partnership with Swedish private markets investment firm Niam Group, which was known as Stronghold until last year.
- • The reported stall marks a setback for McKinsey's effort to win a share of the Nordic private equity market.
Summary
An initiative by consulting giant McKinsey to take a stake in the Nordic private equity market has stalled, according to people familiar with the matter, the Wall Street Journal reported on November 10, 2026.
The US consulting firm established the buyout platform, Felicity & Equity, in 2024 in partnership with Swedish private markets investment firm Niam Group. Niam Group was known as Stronghold until last year. The Wall Street Journal's report describes the venture as shelved, though the available source text is limited and does not detail the reasons for the halt, the capital committed, or the platform's investment record.
The development is notable for institutional investors tracking how professional services firms are moving into private markets through partnerships with specialist managers. Further details on the status of the platform and its partners were not available in the source material.
The US consulting firm established the buyout platform, Felicity & Equity, in 2024 in partnership with Swedish private markets investment firm Niam Group. Niam Group was known as Stronghold until last year. The Wall Street Journal's report describes the venture as shelved, though the available source text is limited and does not detail the reasons for the halt, the capital committed, or the platform's investment record.
The development is notable for institutional investors tracking how professional services firms are moving into private markets through partnerships with specialist managers. Further details on the status of the platform and its partners were not available in the source material.
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