Capital Four Shuffles Portfolio Management Team


Stockholm (HedgeNordic) – Henrik Østergaard, a co-founder of Danish credit asset management boutique Capital Four, has stepped down from his role as a portfolio manager but will remain part of the firm’s investment selection committee. Østergaard decided to step down from the portfolio management team in order to spend more time with his family. The empty chair has been filled up by Laust Johnsen, who has been working at Capital Four for ten years.

Laust Johnsen
Henrik Østergaard

Laust Johnsen has served as a research analyst, worked within risk management and was head of trading during his ten years at Capital Four. “Laust’s broad expertise across the investment function of our organization, as well as his particular competencies in trading, complements the expertise of his co-portfolio managers,” client service assistant Rachelle Madsen tells HedgeNordic.  “Similarly, Henrik’s own background in credit risk assessment and financial analysis has provided a complementary input to the management of our clients’ assets and will continue to provide input to security selections.”

The day-to-day management of Capital Four Credit Opportunities Fund, a member of the Nordic Hedge Index (NHX) that specializes in finding undervalued securities in credit markets, will see no changes following the recent management shuffle at Capital Four. Sandro Näf and René Kallestrup continue to serve as the primary portfolio managers of the fund. Capital Four Credit Opportunities, which oversees €526.5 million in assets under management as of the end of December, returned a negative 0.4 percent last year, which compares with the 3.5 percent decline for the broad European high-yield market. The fund earned an average return of 11.2 percent per year since incepting in January 2010.


Picture ©—shutterstock


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Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at

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