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Finnfund appoints new CIO

Finnfund has appointed Markus Pietikäinen as its new Chief Investment Officer, effective September 1st where he will be responsible for the Finnish development finance institution’s investment operations and serve as a member of the company’s management team and investment committee. From 2012-2014, he was a member of Finnfund’s Board of Directors.

Over the last 11 years, Pietikäinen worked is various positions at Wärtsilä, a manufacturer of power sources and other equipment for the marine and energy markets. In his last role, he was based in Houston, Texas and headed the company’s energy solutions operations for South, Central and North America. Prior to his career at Wärtsilä, he worked for JP Morgan in London.

“I am excited about working for Finnfund at this interesting point of time,” Pietikäinen was quoted as saying. “Renewable energy is an example of a shift in energy production that offers great opportunities for good investments and significant development impacts. Finnfund already has a strong position in financing the energy and forest sectors in developing countries and I look forward in contributing to these activities.”

Finnfund makes investments totalling €100 million to €150 million in 20-30 projects annually, with an emphasis on profitable renewable energy and sustainable forestry projects which have positive developmental impact. Investments and undisbursed investment decisions currently total nearly €600 million, of which half are in Africa.

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