CapMan, a private equity firm based in Finland, has raised approximately $311 million for late-stage investments and buyouts.

The firm made 38 mezzanine investments in the last decade. This fund is its fourth targeted at late-stage investments and buyouts. CapMan defines its target investments as Nordic companies in manufacturing, retail, and service industries with revenue from €50 million to €500 million ($64.7 million to $647 million).

The news comes after the Carlyle Group raised $10 billion for European buyouts. “Europe has been the most active buyout market in the world for the past few years,” said Jean-Pierre Millet, a managing director at Carlyle.

Acquisitions seldom improve things for consumers, who will have fewer options, which can lead to higher prices. Some economists, however, say large corporate deals can improve stock returns and be a precursor to economic growth.

The recent fundraising comes on the heels of the biggest buyout in the history of high tech. SunGard was sold to a group of seven private equity investors Monday for $11.3 billion (see “SunGard sold”).

Analysts have speculated that the investment group, led by Silver Lake Partners and KKR, could be angling to divvy out SunGard’s components in a glut of mergers and acquisitions.