- Advertisement -
- Advertisement -

Related

St. Petri Readying Launch of Long-Only Fund

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Danish boutique asset manager St. Petri Capital is readying the launch of its long-only European small-cap fund in the second half of 2022. Scheduled to launch in September or October, the fund will be managed by Ivan Larsen, a long-time small-cap-focused portfolio manager at Danske Bank Asset Management who joined St. Petri Capital as partner this year, and investment analyst Johann Grøndahl.

“On April 1st this year I announced my return to the equity market as a partner in St. Petri Capital, where I will be starting a long-only European small-cap fund,” Ivan Larsen writes on LinkedIn. “I am very excited to come back to the equity market – I have spent the last three months getting close to the European small-cap market again – a market I have been following for more than 20 years until I resigned from my former employer back in March 2021,” he continues. “I have spent a lot of time together with my colleague Johann Grøndahl to create our new fund – we still hope to be able to launch our new fund around September/October this year.”

“I have spent a lot of time together with my colleague Johann Grøndahl to create our new fund – we still hope to be able to launch our new fund around September/October this year.”

The upcoming fund launch will complement St. Petri Capital’s core offering consisting of a thematic-focused long/short equity fund. St. Petri L/S, managed by St. Petri Capital co-founders Michal Danielewicz and Jens Larsson, has delivered an annualized return of about 17 percent since launching in early 2018 after booking an annual gain of 98 percent in 2020. The long/short equity fund is up 3.8 percent in the first five months of 2022 after edging up 1.3 percent in May, its fourth positive month in five this year.

Ivan Larsen and his co-manager Johann Grøndahl will employ a long-term stock-picking strategy focused on so-called quality companies to run the soon-to-be-launched long-only fund. “I have developed my investment philosophy over many years,” says  Larsen. “I have always been a long-term stock picker focusing on quality companies with a strong market position, companies that have some kind of uniqueness,” he explains his investment approach. “In our new fund, we define these as quality companies with an edge.”

“I have always been a long-term stock picker focusing on quality companies with a strong market position, companies that have some kind of uniqueness.”

Despite a challenging environment for equity investors this year, with the MSCI Europe Small Cap index, for instance, down over 21 percent through the end of June, Larsen sees good prospects for many quality companies in the small-cap space. “This [decline in stock prices]reflects partly a different world with a much more difficult outlook for many companies,” says Larsen. “We are facing a war on European soil – a completely new situation. We are also facing high inflation – something we have not seen for many years,” he continues. “Lastly, to combat the ravaging inflation, we are also facing much higher interest rates than we have had for many years.”

“Just because a company for some odd reason suddenly is out of fashion does not mean that it isn’t still a great company that can and most likely will deliver good returns to its investors.”

“However, I also believe that it, in many cases, reflects a clear over-reaction by the market,” the portfolio manager comments on the recent decline in stock prices. “We have some great quality companies with strong market positions being down 30-50 percent,” he points out. “In our new fund, we plan to invest in some of these companies. Just because a company for some odd reason suddenly is out of fashion does not mean that it isn’t still a great company that can and most likely will deliver good returns to its investors.”

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

Sissener Expands Investment and Sales Teams with Senior Hires

Just months after bringing on Mads Andreassen as Investment Manager, Norwegian fund boutique Sissener AS continues to expand its team with two key additions....

Fenja Capital Deepens Bench as Analyst Moves to Full-Time Role

After earning his Master’s degree in Economics from Aalborg University, Anders Madsen has transitioned from a part-time role to a full-time analyst position at...

Accendo-Backed SSH Secures Major Investment from Leonardo

While public and policy discussions around defence often focus on conventional weapons, many of today’s most active and frequent battles are unfolding in cyberspace....

Swedbank Robur Strengthens Private Equity Team

Swedbank Robur has appointed Lorenzo Gregory Sormani as co-portfolio manager of its private equity fund, Swedbank Robur Alternative Equity I, joining Senior Portfolio Manager...

Beyond Renewables: Coeli Fund Taps Into the Broader Electrification Race

Earlier this year, portfolio managers Vidar Kalvoy and Joel Etzler renamed their fund from Coeli Renewable Opportunities to Coeli Energy Opportunities – a move...

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...

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.