- Advertisement -
- Advertisement -

Related

Scandinavian Credit Fund I Open for Business Once Again

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Direct lending vehicle Scandinavian Credit Fund I temporarily suspended deposits and withdrawals in December to address the challenge posed by the illiquid nature of its investments and the influx of redemption requests received during November and December. By repaying the requested redemptions after the repayment of underlying loans in the first quarter, Scandinavian Credit Fund I has been reopened for deposits and withdrawals as of May 12.

Managed by Stockholm-based asset manager KredFin, Scandinavian Credit Fund I provides senior secured loans with maturities from three to 48 months to small and mid-sized companies in Scandinavia. Since the direct lending fund is an open-ended vehicle offering monthly liquidity, there is some mismatch between the fund’s liquidity terms and the liquidity of its underlying investments. This liquidity mismatch became particularly pronounced in March of 2020 as investors sought liquidity amidst the panic induced by the COVID-19 pandemic.

“Since the outbreak of COVID-19, the fund has had an outflow of nearly two billion. Just before the outbreak, the fund reached close to five billion in assets under management…”

“Since the outbreak of COVID-19, the fund has had an outflow of nearly two billion Swedish kronor. Just before the outbreak, the fund reached close to five billion in assets under management and is down to just under three billion today,” writes the team at Scandinavian Credit Fund I in a note to investors. In connection with the fund’s reopening, the window for new redemption requests has been extended from May 15 to May 26, which corresponds to the last day for the subscription of new fund units. The extension will help the team running the fund get a better understanding of anticipated inflows and outflows.

A new wave of inflows will help the team led by head of investment Andreas Konstantino (pictured) deploy capital in an environment that offers “good opportunities to do new business for the long-term investor.” With The fund’s portfolio of underlying investments consisting of loan receivables with an average term of approximately two years, further redemption requests that exceed inflows may force the team to postpone redemptions again or even wind down operations. “Further redemption requests may result in the fund ending up in a situation where it is forced to postpone redemptions or even wind down operations to protect all investors in the fund,” according to the team at KredFin.

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

Origo’s Johansson Returns to Sohn Conference with High-Conviction Pick

Swedish stock-picking boutique Origo Fonder is gaining fresh recognition following a strategic transformation, strong performance, and growing assets. The firm’s evolution into an “Origo...

Commodities Lift CTAs Amid Turmoil

In June 2025, the NHX CTA Index was up as losses in stocks and bonds were outweighed by profits in commodities, but briefly erupting...

Finserve Global Security Fund Boosts Quant Edge with Martin Redgård

Under lead portfolio manager Joakim Agerback, the Finserve Global Security Fund has successfully capitalized on the global surge in defense, cybersecurity, and space investments...

Visio Allocator Storms Back After Difficult March

After posting the worst monthly performance in its 15-year history with a 13.7 percent decline in March, the team behind the multi-strategy Visio Allocator...

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...

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.