- Advertisement -
- Advertisement -

Related

€300 Million for Nordic SMEs

Industry Report

- Advertisement -

Stockholm (HedgeNordic) – Swedish asset manager Finserve Nordic AB has signed a credit guarantee agreement with the European Investment Fund to support Nordic small and medium-sized enterprises (SMEs). The guarantee, deployed through alternative direct lender Scandinavian Credit Fund I, will make available €300 million in new, advantageous lending for Swedish, Danish and Finnish companies hit by COVID.

The guarantee falls under the “European Guarantee Fund” and is meant to ensure that Nordic SMEs have sufficient financing available to mitigate the economic impacts of the COVID-19 crisis. The European Guarantee Fund is part of the European Union’s €540 billion COVID-response package agreed last year. According to the agreement, the team running Scandinavian Credit Fund I will take the guarantee into account when calculating the price of new loans, thereby enabling improved terms for its borrowers.

“We, in the investment team that manages Scandinavian Credit Fund I, are proud to have been included in the credit program by the EIF.”

“We, in the investment team that manages Scandinavian Credit Fund I, are proud to have been included in the credit program by the EIF. Being included means that our rigorous analyzing processes as well as our policies and instructions have been extensively tested and approved by the EIF,” comments Fredrik Sjöstrand (pictured), Head of Investments and Portfolio Manager of the Scandinavian Credit Fund I. “Backed by the guarantee program, we are now able to choose to include new credits under the 70% guarantee that the EIF has enabled us to. Furthermore, we are able to adjust the interest rate in a beneficial way for the borrower.”

“The EIF is glad to be able to partner with Finserve to make sure that this much-needed financing is channeled their way.”

“The European Guarantee Fund allows the EIF to do even more of what it does best; providing finance to European SMEs, allowing them to grow,” says European Investment Fund’s Chief Executive, Alain Godard. “As in other countries, Nordic businesses have had to deal with the restrictions related to the COVID pandemic and the EIF is glad to be able to partner with Finserve to make sure that this much-needed financing is channeled their way.”

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

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 eugene@hedgenordic.com

Latest Articles

Three Danish Hedge Funds Recognized by the Hedge Fund Journal

Three Danish hedge funds have been recognized at the 2025 Hedge Fund Journal CTA and Discretionary Trader Awards. Two funds managed by Danske Bank...

Private Equity in Transition: Challenges and Opportunities

Private equity has matured into a mainstream – if not cornerstone – allocation for institutional investors. Following years of record fundraising and valuation expansion,...

Formue Highlights Private Credit’s Role in New Economic Era

Nordic wealth manager Formue has long prided itself on delivering institutional-grade investment solutions to high-net-worth individuals. As global economic conditions shift, Formue sees an important role...

Chelonia Select Builds on Solid 2024

Stock-picking hedge fund Chelonia Select is off to a strong start in 2025 with an 8.3 percent gain through the end of May, building...

CABA Capital Expands the Flex Series

Danish fixed-income boutique CABA Capital has launched the third vintage of its leveraged, closed-end fixed income strategy: CABA Flex3. The fund aims to deliver...

Aegon AM Launches Capital Call Finance Fund

Aegon Asset Management has launched the Aegon Capital Call Finance Fund, providing institutional investors with access to the capital call finance market – a...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.