# Merimieseläkekassa (Seafarers' Pension Fund) (MEK)

Merimieseläkekassa (Seafarers' Pension Fund) (MEK) is a Pension Fund based in Helsinki, Finland.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Helsinki, Finland
- **Region:** Europe
- **Address:** Helsinki, Finland
- **Founded:** 1956
- **Assets under management:** 1300 (Altss estimate)
- **Website:** https://merimieselakekassa.fi
- **LinkedIn:** https://fi.linkedin.com/company/merimiesel%C3%A4kekassa

## Regulatory record

- **Reports private funds:** No

## About

Merimieseläkekassa was established to administer statutory pension coverage for Finnish maritime workers. Jari Puhakka serves as chief executive and Sauli Hämäläinen as chief investment officer. The fund's board structure incorporates direct representation from both labor and employer organizations in shipping. The portfolio allocates across listed equities on Nasdaq Helsinki, direct real estate, forestry holdings, and infrastructure. Confirmed positions include commitments to Growth Capital Partners Fund VI, Beechbrook Capital, Hg, LGT European Capital, and Bocap. Geographic exposure centers on Finland with additional holdings in the United Kingdom and broader Europe. In 2022 the fund sold a portfolio of 463 apartments in Helsinki, Turku, and Mariehamn to Premico Asuntosalkku 4 Ky as part of a shift toward indirect real-estate vehicles. The fund reports a target internal rate of return of 7 percent and an investment horizon of at least ten years. It maintains membership in Työeläkevakuuttajat TELA ry and is a signatory to the UN Global Compact. Two dated operational events from 2025 include attendance at Rauma Maritime Network Day in October and sponsorship of Maritime Exhibitions and Events in June. Governance is defined by statutory board appointments from the Ministry of Social Affairs and Health together with mandatory labor and employer representation. This architecture embeds maritime-industry oversight into investment policy and distinguishes the fund from generic public-sector pension vehicles.

## Sectors

- Real Estate
- Infrastructure
- Private Equity
- Timberland

## People

- Jari Puhakka — Chief Executive Officer
- Sauli Hämäläinen — Chief Investment Officer

## Questions

### Who runs investment decisions at Merimieseläkekassa?

Jari Puhakka serves as chief executive and Sauli Hämäläinen as chief investment officer. The board includes representatives from the Finnish Seafarers' Union and the Finnish Shipowners' Association.

### Does Merimieseläkekassa participate in fund commitments or only direct deals?

The fund holds both direct real-estate and forestry assets and limited-partner positions in private-equity and private-debt vehicles including Growth Capital Partners Fund VI and Beechbrook Capital.

### What investment stages does Merimieseläkekassa typically target?

The fund maintains a ten-year minimum investment horizon and targets a 7 percent internal rate of return. Ticket sizes range from 10 million to 50 million USD.

### How is Merimieseläkekassa related to Finnish maritime organizations?

The Finnish Seafarers' Union and Finnish Shipowners' Association hold seats on the board of directors.

## Related profiles

- [Merced County Employees' Retirement Association](https://altss.com/profile/merced-county-employees-retirement-association)
- [Safanad](https://altss.com/profile/safanad)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/merimiesel-kekassa-seafarers-pension-fund-mek

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