Stockholm (HedgeNordic) – The Swedish Financial Supervisory Authority, Finansinspektionen, has granted approval for Indecap’s acquisition of fund boutique PriorNilsson Fonder. This strategic collaboration will create one of the largest independent fund players in Sweden, with combined assets under management of SEK 55 billion. Despite joining forces, both PriorNilsson and Indecap will maintain their distinct brands and continue managing their funds according to their existing investment strategies.

“PriorNilsson is an extremely well-managed company with many years of successful fund management,” says Mats Lagerqvist, CEO of Indecap. “The deep knowledge and experience of PriorNilsson’s managers are impressive and we look forward to developing and strengthening the company,” he continues. “Together, we become a stronger player and an important part of the Swedish fund market.”

Founded in 2002 by PO Nilsson and Torgny Prior, PriorNilsson Fonder has evolved from a two-person asset manager into a stock-picking boutique with a broader team and a broader range of funds. Its first fund, PriorNilsson Yield, was launched in late 2002, followed by the higher-risk, higher-reward long/short equity fund, PriorNilsson Idea, four years later. The boutique now manages nine funds with over SEK 13 billion in assets under management, with hedge funds accounting for over half of that total. PriorNilsson Idea, the firm’s largest product, oversees SEK 4.7 billion in assets under management as of the end of August.

Indecap is owned by Sparbankerna, a network of 34 Swedish savings banks, providing PriorNilsson with access to a broader investor base. “We look forward to taking the company forward under strong owners like Sparbankerna,” said PriorNilsson founders PO Nilsson and Torgny Prior (pictured) when the deal was announced in May. “We see this as a fantastic opportunity for the company and it will be extremely exciting,” they added. “We will continue to work on developing PriorNilsson with good products and be able to reach out to more customers.”