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Stockholm (HedgeNordic) – Carnegie’s previously announced acquisition of Carnegie Fonder has been completed. The acquisition completed under the umbrella of the newly formed Carnegie Group will complement Carnegie Investment Bank’s three business areas of investment banking, securities, and private banking with a new business area focused on asset management.

The new asset management business area consists of Carnegie Fonder and Norwegian fund company Holberg. Carnegie Fonder will operate at an arm’s length from Carnegie Investment Bank, which means Carnegie Fonder will continue to operate as an independent asset manager. With the completion of the deal, Carnegie Fonder is back in the same ownership structure that prevailed until 2016.

“Carnegie Group is a natural home for Carnegie Fonder and I am happy that the deal is now completed,” says Carnegie Fonder’s CEO, Andreas Uller. “Even with Carnegie Group as an owner, we will continue to create real value for both shareholders, partners and shareholders with first-class management,” he adds. “The deal in no way affects Carnegie Fonder’s organization or management philosophy.”

“Carnegie Group is a natural home for Carnegie Fonder and I am happy that the deal is now completed.”

In a separate process, Carnegie Fonder has taken over Swedish hedge fund boutique Nordic Cross Asset Management. As part of the takeover, one Nordic Cross hedge fund has been liquidated, a second one has been merged into a Carnegie fund, and a third one continues its journey under the Carnegie brand. The fourth Nordic Cross hedge fund, Nordic Cross Stable Return, will be merged into the long/short equity fund of fellow Swedish fund manager Norron. The merger of Nordic Cross Stable Return into Norron Select marks the completion of Carnegie Fonder’s acquisition of hedge fund boutique Nordic Cross Asset Management.

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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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