Stockholm (HedgeNordic) – Norselab’s credit arm, which has grown to NOK 2.7 billion in assets under management within just 18 months since its inception, has appointed Lars Christian Bjørge as its Head of Credit Sales. The appointment is part of the arm’s objective to double its asset base by year-end. Bjørge is set to assume his new role at the beginning of June.
The credit arm of Norselab started to take form in 2022 with the recruitment of high-yield-focused portfolio manager Tom Hestens and Ole Einar Stokstad, the former head of credit at DNB Markets. Together, they spearheaded the launch of two alternative funds specializing in high-yield bonds. With a combined NOK 2.7 billion in assets, the credit arm aims to reach the NOK 5 billion milestone by the end of the year and the hiring of Lars Christian Bjørge is an important step towards this goal.
Scheduled to commence his role on June 1, Bjørge most recently served as Senior Executive Sales Manager at Danske Bank for nearly six years. Preceding his tenure at Danske Bank, Bjørge served as Senior Vice President and Board Member at Pareto Bank. Prior to that, he accumulated over nine years of experience at Pareto Securities, specializing in institutional equity and high-yield bond sales.
“He will play a key role in realizing our ambitious goal of doubling AUM in 2024.”
Tom Hestnes
“Lars Christian has the perfect background and industry expertise in building sales teams in the space that we’re operating in, not to mention long experience with sales and impressive results over a long period of time,” comments Tom Hestnes, Managing Director of Norselab’s credit arm. “He will play a key role in realizing our ambitious goal of doubling AUM in 2024,” he elaborates. “Investors can expect exceptional treatment from Lars Christian, as he is genuine, friendly, and has contagious high spirits. We are excited to have him on board.”
Commenting on his new role, Lars Christian Bjørge expresses his enthusiasm, saying, “I am thrilled to be working with the best-performing high-yield team in the Nordics and playing a part in taking this adventure to new heights.” He also highlights the team’s success so far and his motivation to contribute to further development, stating, “The team has had a tremendous start and is poised for continued success. I am also strongly motivated by working for an investor where impact is at the heart, so we contribute to a better future.” Bjørge “cannot wait to embark on this journey to make Norselab the largest and preferred asset manager within Alternative Investment Funds in credit.”
“I am thrilled to be working with the best-performing high-yield team in the Nordics and playing a part in taking this adventure to new heights.”
Lars Christian Bjørge
Tom Hestens and Ole Einar Stokstad launched the credit arm’s first fund, Norselab Meaningful Impact High Yield, in November 2022 with NOK 513 million. A year later, amid promising opportunities in the Nordic real estate market, Norselab launched a second high-yield fund with NOK 743 million at inception to invest in Nordic real estate. Norselab Meaningful Impact High Yield has delivered a cumulative return of 22 percent since inception, and Norselab Real Estate Credit Opportunities has surpassed ten percent since launching in late November 2023.
