- Advertisement -
- Advertisement -

Case to Buy Celina’s Fund Operations

Report: Systematic Strategies

- Advertisement -

Stockholm (HedgeNordic) – Publicly listed asset manager Case Group has entered into a letter of intent to acquire the fund operations of Celina Fondförvaltning, formerly Catella Fondförvaltning. Case intends to bring Celina’s seven funds and three fund management agreements under its umbrella, corresponding to SEK 14.2 billion in assets under management.

For the acquisition of Celina’s fund operations, Case is offering a cash portion of SEK 100 million consisting of own funds and bank loans, as well as about 12.8 million new shares in Case. The current owner of Celina, Athanase Industrial Partners, will own approximately 39 percent of shares in Case following the completion of the acquisition, which reflects the dilution effect from the new issue. The parties involved now plan to initiate the due diligence process, aiming to complete the acquisition by the second quarter of 2022.

“Our expectation is that the acquisition will provide the Case Group with gross sales in excess of SEK 120 million with good profitability already in 2022,” comments Johan Andrassy, the CEO of Case. “The costs after the acquisition will be significantly reduced through realizable synergy effects.”

“We have looked at different types of deals to strengthen the customer offering, distribution capacity and economies of scale. This deal delivers on all criteria.”

“We have looked at different types of deals to strengthen the customer offering, distribution capacity and economies of scale,” comments Stefan Charette, Chairman of Celina’s Board. “This deal delivers on all criteria,” he continues. According to Charette, through this deal, “Athanase gets a significant stake in Case, the staff at Celina gets a safer home and conditions for continued acquisitions exist.”

Celina, a wholly-owned portfolio company of Athanase Industrial Partners, conducts active and alternative asset management aimed at private and institutional investors. Celina has been managing funds since 1998 and currently has a fund range that includes equity, fixed income and hedge funds. On February 28, Bodenholm founder Per Johansson started in his role as Chief Investment Officer (CIO) of Celina Fondförvaltning. Johansson and his team at Boden Capital, which he launched in late 2020 with a select group of former Bodenhom employees including Bodenholm’s former CEO Erik Orving, have all joined Celina Fondförvaltning.

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

Ridge Capital Expands Team After Hitting €100 Million Milestone

Stockholm (HedgeNordic) – With its unconventional high-yield bond strategy now exceeding €100 million in assets under management, Ridge Capital is expanding its portfolio management...

“7 Years, Niller, Then You Know a Thing or Two”

Stockholm (HedgeNordic) – There is a Danish saying that goes, “7 years, Niller, then you know a thing or two,” suggesting that seven years...

Brobacke Gains 7.6% in Early July, Predicts Continued Bull Market

Stockholm (HedgeNordic) – After a relatively flat first half of 2024, marked by noticeable month-over-month volatility, discretionary macro fund Brobacke Global Allokering advanced 7.6...

Kristofer Barrett Back to Managing Tech Fund

Stockholm (HedgeNordic) – Kristofer Barrett, the former portfolio manager of the multi-billion-dollar Swedbank Robur Technology fund, has returned to managing a technology-focused equity fund....

Tidan’s Resurgence Amid Markets Needing a Touch of Magic

Stockholm (HedgeNordic) – In late 2021, Michael Falken and his team at Tidan Capital launched a hedge fund employing a capital structure relative value...

The Value of Short Selling for Symmetry

Stockholm (HedgeNordic) – Stock-picking hedge fund Symmetry Invest has achieved a net-of-fees annualized return of 18 percent since its inception just over 11 years...

Allocator Interviews

In-Depth: High Yield


Request for Proposal

- Advertisement -