A Finnish private equity fund of funds whose attempt to raise money from foreign investors was badly hit by the credit crisis last year, is set to renew its efforts at a time when its industry peers are fiercely competing for limited capital in the market.

Pohjola Private Equity Funds, a lower mid-market firm owned by Pohjola Bank, will attempt to broaden its investor base outside of Finalnd for its third fund, according to Samuli Sipilä, a partner and chief executive of the fund of funds.