- Advertisement -
- Advertisement -

St. Petri Cancels Launch of Small-Cap Fund

- Advertisement -

Stockholm (HedgeNordic) – St. Petri Capital, a Danish fund boutique, has scrapped its plans to launch a long-only European small-cap fund due to insufficient capital raised in a second attempt earlier this month. The fund boutique has made a second attempt at launching St. Petri Europe Small Cap the initial launch had been postponed in late 2022 due to challenging market conditions.

Ivan Larsen, an experienced portfolio manager with a focus on small-cap stocks at Danske Bank Asset Management, joined St. Petri Capital as a partner in April 2022 with the intention of launching St. Petri Europe Small Cap. “We have since been working hard to establish a European Small Cap Fund. We have now concluded that is not possible,” announces St. Petri Capital on Linkedin. “The product has been performing well – but being an independent asset manager boutique, we do not have the required distribution power to raise the needed money that is required by the authorities. Part of the reason is also that some key investors, unfortunately, have decided not to participate.”

“We have since been working hard to establish a European Small Cap Fund. We have now concluded that is not possible.”

The launch of the European Small Cap fund was meant to complement St. Petri Capital’s existing core offering, consisting of a thematic-focused long/short equity fund called St. Petri L/S. Managed by co-founders Michal Danielewicz and Jens Larsson, St. Petri L/S has delivered an annualized return of approximately 13 percent since launching in early 2018 after recording a 98 percent gain in 2020. The long/short equity fund gained 4.7 percent in the market conditions of 2022 and experienced a decline of 5.2 percent in the first four months of 2023. As of the end of April, St. Petri L/S oversees DKK 305 million in assets under management.

After scrapping its plans to launch St. Petri Europe Small Cap, Ivan Larsen will remain part of the St. Petri Capital organization. Additionally, St. Petri Capital has welcomed Claus Johansen as a portfolio manager and partner to lead the launch of a healthcare-focused long-only equity fund in the second half of this year.

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

Niche Opportunities in Private Credit Amid Record Dry Powder Levels

Stockholm (HedgeNordic) – The evolution of private credit as an asset class has been remarkable, attracting increasing allocations from investors. Assets under management by...

Tidan Readies Systematic Macro Launch with Linus Nilsson

Stockholm (HedgeNordic) – Stockholm-based fund boutique Tidan Capital is broadening its suite of strategies with the upcoming launch of its systematic macro initiative in...

Chelonia to Embrace Long-Biased Strategy

Stockholm (HedgeNordic) – Despite securing a spot among the top 15 best-performing Nordic hedge funds this year as a market-neutral fund, Chelonia Market Neutral...

Nykredit Hedge Funds Battle to Reverse Downtrend in Assets

Stockholm (HedgeNordic) – Despite showing improved performance, the fixed-income hedge fund trio at Nykredit Asset Management is struggling to reverse a downward trend in...

“Boring” Short Sellers Partner with Sector for Fund Launch

Stockholm (HedgeNordic) – Renowned short seller Andrew Left has been quoted as saying that short sellers are becoming “a dying breed.” Despite the departure...

Adrigo Catapults into Top Five After Strong May

Stockholm (HedgeNordic) – Adrigo Small & Midcap L/S has surged into the top five best-performing Nordic hedge funds for the year, boasting a return...

Allocator Interviews

Latest Articles

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -