- Advertisement -
- Advertisement -

Related

Norron Expands Sales Force Ahead of Merger

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Norron Asset Management, a boutique fund manager in the process of merging with Aker-owned Industry Capital Partners, has strenghtened its institutional sales team with the hiring of Jonas Karell from Ruth Asset Management. Leveraging his extensive network of institutional clients and experience in broker-facilitated fund distribution, Karell is set to play a central role in driving marketing and sales effors in Sweden for the soon-to-be merged entity, ICP Norron.

“Joining the journey with Aker-owned Industry Capital Partners (ICP) and Norron is an opportunity and privilege I am gladly embracing,” Karell announces on LinkedIn. With 30 years of experience in fund sales, Karell has held key sales roles at asset managers such as Skandia, Öhman Fonder, and most recently, Ruth Asset Management. He has served in several leadership positions in sales and was instrumental in establishing the institutional business at Öhman Fonder. In his recent role at Ruth Asset Management, Karell specialized in broker-facilitated fund sales in Sweden.

“Joining the journey with Aker-owned Industry Capital Partners (ICP) and Norron is an opportunity and privilege I am gladly embracing.”

Jonas Karell

Aker, the majority owner of Norron Asset Management since its inception in 2011, signed a letter of intent with the company’s other shareholders last year to acquire full ownership of Norron. As part of this transaction, Norron’s fund management operations will be integrated with Aker’s other asset management investment, Industry Capital Partners (ICP). For Norron, the merger will significantly enhance its capabilities, as the fund management team will double in size with the addition of highly skilled and experienced professionals from ICP, many of whom have backgrounds at Norges Bank Investment Management (NBIM), commonly known as the Norwegian Oil Fund. ICP is led by Yngve Slyngstad, who served as the head of the Norwegian Oil Fund for 13 years.

The two fund management businesses will be combined under a new entity, named ICP Norron, with the merger expected to be completed in the first half of 2025, pending approval from the relevant authorities. “It is both stimulating and exciting to have the privilege of collaborating with Norron’s management team and ICP’s team, both of whom bring extensive experience from the Norwegian Oil Fund,” says Karell. He will be based in the Stockholm office, working alongside Sebastian Uddén, Norron’s Head of Sales in Sweden.

“It is both stimulating and exciting to have the privilege of collaborating with Norron’s management team and ICP’s team, both of whom bring extensive experience from the Norwegian Oil Fund.”

Jonas Karell

Norron Asset Management specializes in active management across equities, fixed income, and alternative investments. Its current product lineup includes five funds: two absolute return funds, two fixed-income funds, and one equity fund, managing approximately SEK 8.3 billion (€723 million) in assets as of year-end 2024. The two hedge funds, Norron Select and Norron Target, together manage around SEK 748 million, with the multi-strategy Norron Target experiencing a significant decline in assets under management from over SEK 4.5 billion in 2020 to less than SEK 600 million by the end of 2024.

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

Opportunities Lie Beneath Aggregate Credit Spreads

Credit spreads across the United States and Europe have tightened to historically low levels, leaving limited reward for simply holding long credit positions. This...

European Alternative Investments Conference 2025

More than 200 practitioners, academics and thought leaders met in Copenhagen for the second European Alternative Investments Conference, hosted by Finansforeningen, CFA Society Denmark...

Playing ‘Moneyball’ for Investors

Having managed the opportunistic hedge fund Pensum Global Opportunities under the Pensum Asset Management umbrella since 2022, Sector co-founder Peter Andersland has now established...

One Big Winner Lifts Accendo Into the Top Ten

When your portfolio holds six names, one big winner can move the needle in a major way. For Accendo Capital, September proved just that....

Slim Nordic Line-Up at HFM Awards

With Intelligence has revealed the shortlist for the HFM European Performance Awards 2025, featuring an unusually small number of Nordic hedge funds among this...

Record Gold, Rising Momentum

The NHX CTA Index gained in September 2025, supported by a broad-based trend environment. Most of the profits came from precious metals, as gold...

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.