MAY 07 2025
Nordic Capital’s commitment to nurturing future leaders is exemplified through its comprehensive internship programme, designed to introduce rising talents to the world of private equity. In the spring of 2025, Maria Ljungdahl and Elias Borg joined the Nordic Capital advisory office in Stockholm as full-time interns for ten weeks.
Can you describe a typical day during your internship?
Maria: I’ve been involved in lots of interesting things as part of the mid-market Evolution advisory team. This includes participating in calls and meetings in due diligence processes, preparing material and listening to industry experts. Every day has been varied and insightful, and much more interactive than expected.
Elias: There really isn’t a “typical” day. I’ve worked across a variety of initiatives, some lasting just a week and others ongoing since day one. I’d say that my work generally falls into three categories. Firstly, sourcing, which involves conducting assessments of potential investment targets and analyses of market trends. Secondly, support of portfolio companies by engaging in analyses to identify potential improvements. Thirdly, deal work, including tasks ranging from data review to coordination and analysis.
To illustrate a day in the life, here’s an example of a recent day:
- Morning: I began by responding to emails that had come in overnight from US colleagues. I noticed new materials had been added for an investment project I'm currently supporting, so I reviewed these in preparation for a call.
- Midday: I worked on a list of potential companies for acquisition. This involved aggregating data and coming up with recommendations on which targets seemed the most promising.
- Afternoon: After lunch, I joined a call for the ongoing project, where we discussed the next steps for due diligence and reviewed the focus areas for this phase of the process. I also participated in calls with external advisors.
What skills have you developed or improved?
Maria: The team has been very intentional about giving me opportunities to build a broad skill set. I’ve developed both analytical and practical skills, from better understanding the commercial and strategic aspects of investing, to being part of exercises on valuation, financial analysis and modelling.
Elias: I’ve sharpened my commercial understanding, learning to quickly grasp different businesses, assess industry dynamics and evaluate strategic fit. A key part of this has been learning to ask the right questions and seek out the answers through research, analysis and discussions with colleagues. My technical skills in modelling and valuation have deepened, and it has also been valuable to get a much better understanding of the private equity value creation approach.
How did the company culture support your growth?
Elias: When I first joined, I was naturally a bit hesitant to ask questions, worried that I might reveal gaps in my knowledge. But from the very beginning, I noticed that curiosity is not only welcomed, it’s encouraged at every level. People aren’t afraid to ask questions, even in high-level discussions, and there’s a strong sense that no question is too basic if it helps the team. That mindset has had a real impact on me and made me more confident in seeking clarification.
Maria: The culture has been one of the highlights. People in all teams across all offices are super social, empathetic and extremely smart. That balance of people being both driven and supportive made it such a motivating place to work. It’s a culture that truly encourages learning from each other, and I’ll really miss that.
What surprised you the most about working in private equity?
Maria: I’m positively surprised by the interactive and collaborative culture, and the extent I was given the opportunity to be involved in actual projects. From internal discussions to external calls and meetings with various consultants.
Elias: I'd say the pace of learning and the breadth of the role. Working here means constantly switching between industries, business models and strategic challenges. It’s not just about financial analysis, it’s about thinking like an investor, understanding what drives value and figuring out how to apply those insights.
What mentorship or support did you receive from colleagues?
Elias: One of the things I’ve appreciated is the balance between independence and support. From the beginning, my colleagues trusted me to take initiative, which gave me the confidence to learn by doing. At the same time, that freedom was always backed by a strong safety net. Once I had taken a first stab at something, my colleagues offered guidance and challenged my thinking.
Maria: I had a buddy and a “staffer” who both looked out for my learning and workload. On top of that, the whole team has been generous with their time, always willing to explain new concepts and projects to me.
How has this internship influenced your career aspirations?
Maria: It has strongly inspired me and confirmed my career aspirations. I appreciate the exposure to such a wide variety of businesses and being part of analysing what entrepreneurs have built. Working with these colleagues in a high-performing and supportive environment has been both motivating and affirming.
Elias: My time has deepened my interest in the financial sector and M&A. It has not only given me valuable exposure to the commercial and strategic dimensions of deal-making but also made me appreciate the diverse set of skills and perspectives that contribute to successful investing.
Can you share a memorable project or task you worked on?
Maria: One standout project was being involved in the early stages of a potential deal. I learned about what key parameters to consider, how the process is structured and different stakeholders involved at each stage. I also enjoyed the experience of getting deeper insight about specific portfolio companies.
Elias: The project that comes to mind is when I was part of a group exploring a potential new investment sub-segment. While I received support and direction throughout, I was also given the opportunity to take real ownership and contribute. This approach allowed me to engage – from mapping out the sector and identifying sub-segments, to analysing market dynamics and shaping a view on what an attractive investment position might look like.
What advice would you give to future interns?
Elias: Don’t be afraid to ask questions. Everyone is incredibly supportive and open, and asking questions is seen as a sign that you're engaged and eager to learn. At the same time, be proactive. When you’re facing a challenge or are unsure about something, try to come up with a proposed solution before reaching out. It shows initiative and helps moving conversations forward more effectively.
Maria: I'd suggest looking into the business model of Nordic Capital and private equity, as well as speaking to them at student events. Meeting the team beforehand gave me a great sense of the culture and motivated me to apply.
Career at Nordic Capital Advisors
The internship offers hands-on experience, collaboration with professionals and new insights. For more information, go to Nordic Capital - Internship Program