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Case Completes Celina Acquisition

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Stockholm (HedgeNordic) – Swedish fund manager Case Group has completed the acquisition of Celina Fonder’s fund operations. The Swedish Financial Supervisory Authority, Finansinspektionen, approved the sale and transfer of Celina’s remaining alternative investment funds, including hedge funds Celina Credit Opportunity and Celina Hedgefond, to Case on October 28.

“All conditions for the transaction, including regulatory approvals from the Financial Supervisory Authority (“FI”) have now been met and the transaction involving Case’s acquisition of Celina’s funds can thus be completed,” Celina Fonder announces in a press release. “We at Celina Fonder look forward to growing together with Case. We will be able to offer more exciting funds with better technical solutions to our customers. Celina’s managers and other staff join Case.”

“We at Celina Fonder look forward to growing together with Case. We will be able to offer more exciting funds with better technical solutions to our customers.”

Publicly listed asset manager Case started exclusive negotiations with Celina about the acquisition of Celina’s funds in early March, with the parties entering into an operating transfer agreement on April 22. Case agreed to acquire Celina Fonder’s fund operations for SEK 365 million, with the purchase price consisting of a cash portion of SEK 100 million and a convertible loan of SEK 265 million with a maturity date of December 31, 2026. The convertible loan gives the right to convert the loan into about 10.8 million shares in Case, with the 10.8 million shares accounting for 35.2 percent of Case after full conversion.

Following the recent approval by Finansinspektionen, Case has brought under its umbrella Celina’s six remaining alternative funds – including two members of the Nordic Hedge Index. Up 6.1 percent so far in 2022, low-risk multi-strategy hedge fund Celina Hedgefond received a new breath of life since Bodenholm founder Per Johansson was appointed as the CIO of Celina Fonder and joined the fund’s portfolio management team in early 2022.

 

Photo by Benjamin Child on Unsplash

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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

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