Stockholm (HedgeNordic) – Stockholm-based hedge fund house Atlant Fonder AB has acquired Pacific Fonder AB, which manages three equity funds with dynamic mandates and two hedge funds that are part of the Nordic Hedge Index. Mattias Gromark, who has been responsible for managing Pacific Fonder’s entire range of funds, continues to run the funds as part of Atlant Fonder.
“The acquisition of Pacific Fonder strengthens our management organization, marketing organization and our fund offering, which now includes Pacific Precious, a unique fund for Sweden,” says Michael Ekelund (pictured), Atlant Fonder’s CEO. “The investment is in line with Atlant Fonder’s strategy of becoming Sweden’s leading player in alternative investments.” Atlant Fonder partly owned Pacific Fonder before the acquisition.
Pacific Fonder’s now-former CEO, Peter Beckman, will be responsible for institutional clients and participate in Atlant Fonder’s sustainability efforts. “We welcome the merger with Atlant Fonder and look forward to working under Atlant Fonder’s strong brand,” says Beckman. The merger was consummated on November 4.
Atlant Fonder’s assets under management amount to SEK 5.1 billion as of the end of October, up from SEK 3.3 billion at the end of 2017. Following the merger, Atlant Fonder’s fund range includes 12 funds with combined assets under management of about SEK 5.5 billion.
Pacific Precious, a multi-strategy hedge fund mainly investing in precious metals, gained 19.2 percent year-to-date through the end of October after capitalizing on a strong rally in gold and other precious metals. In addition to Pacific Precious, Atlant Fonder’s fund range now includes multi-asset, multi-strategy fund Pacific Multi Asset and three additional equity funds. “Pacific Fonder’s funds complement our range of market-neutral and absolute return funds in an interesting way,” says Ekelund. “We are noticing a strong interest in alternative investments and had a desire to broaden our offering.”