Stockholm (HedgeNordic) – Norwegian fund boutique CARN Capital is celebrating its ten-year anniversary this June. Based in Oslo, the single-strategy manager currently operates two funds, a long/short equity fund that has been running since 2015 and a long-only curve-out launched five years later.
“Today it is ten years since CARN Capital was started. Now when we look back on the last ten years we are filled with gratitude,” writes CEO and CIO Andreas Bomann-Larsen (pictured), who co-founded CARN Capital in mid-2013. “We are first and foremost grateful to our current and former employees who have worked so hard and dedicated to build the company over these years, our clients who have been patient, long-term and backed us in all the good and in the challenging periods,” he continues. Bomann-Larsen and his team at CARN Capital are also grateful to the “owners who have invested significant capital in building the CARN platform, believed in the vision and backed us with valuable advice along the way, and to friends and colleagues in the industry who have backed us in so many ways.”
“Today it is ten years since CARN Capital was started. Now when we look back on the last ten years we are filled with gratitude.”
Co-founders Andreas Bomann-Larsen and Christer Bjørndal, who left his role as a portfolio manager at the fund boutique at the beginning of 2023, launched the long/short equity fund, CARN Latitude, in November 2015 as part of an “aksjeselskap,” called AS. The strategy has been run in a UCITS-compliant vehicle domiciled in Luxembourg since November 2016. Despite facing a more challenging period in 2022 when the fund experienced a decline of 16.8 percent, CARN Latitude has generated an annualized return of 8.5 percent since November 2015. In late 2020, the long/short equity fund was joined by CARN Longitude, a carve-out of CARN Latitute’s long book. The two funds collectively oversee NOK 545 million, with CARN Latitude managing NOK 330 million.
“We are also very grateful for all the learnings we have made, professionally and personally. We believe all these learnings represent a valuable reservoir which we intend to harvest maximum from in the years to come,” Andreas Bomann-Larsen reflects on the past ten years. “When we think about what the next ten years might bring, we are filled with excitement and enthusiasm.”