- Advertisement -
- Advertisement -

Case to Buy Celina’s Fund Operations

- 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

First Non-Swedish Family Office Investment for Protean Small Cap

Stockholm (HedgeNordic) – About one year after the successful launch of their long/short equity fund Protean Select, Pontus Dackmo and Carl Gustafsson introduced a...

Atlant Högräntefond Leads Peers on Third Anniversary

Stockholm (HedgeNordic) – Around mid-March 2021, Swedish hedge fund boutique Atlant Fonder launched a UCITS-structured fixed-income fund investing in Nordic corporate bonds, drawing from...

Rhenman Welcomes Brummer & Partners Sales Veteran

Stockholm (HedgeNordic) – After close to 18 years as an institutional sales professional at Brummer & Partners, Tom Josephson is set to join healthcare-focused...

Untapped Potential in Symmetry’s Small-Cap Portfolio

Stockholm (HedgeNordic) – Small-cap-focused hedge fund Symmetry Invest has achieved an annualized return of around 20 percent over the past five years and over...

Navigating Asia-Pacific’s Transition to Sustainable Growth

Stockholm (HedgeNordic) – Emerging markets in the Asia-Pacific region, such as China, India, Indonesia, the Philippines, Thailand and Vietnam, have experienced significant economic expansion...

The Performance of US Equities in Election Years Over the Last Century

By Daniel Ung, Kartik Chawla, and Jędrzej Miklaszewski – SPDR: The 2024 US presidential election is on the horizon, and investors are keen to...

Allocator Interviews

Latest Articles

In-Depth: Emerging Markets

Voices

Request for Proposal

- Advertisement -