As is tradition, Nordic hedge funds once again secured a strong presence among the nominees at the EuroHedge Awards and, as usual, some returned home with top honors. At this year’s ceremony in London on February 27, Tidan Fund, Ridge Capital Northern Yield, and Svelland Global Trading Fund claimed victory in their respective categories.

The With Intelligence EuroHedge Awards honor the top-performing hedge funds in Europe. Nominations and winners are determined based on a combination of Sharpe ratios and absolute performance, reflecting the dual mandate of hedge funds: generating strong returns while minimizing volatility. The winners of the 2024 EuroHedge Awards were announced at a ceremony in London on February 27.

Tidan Fund

Tidan Fund, a hedge fund employing a capital structure relative value strategy, secured the award for “Emerging Manager – Smaller Fund – Macro, Futures, Fixed Income & Relative Value” at the 2024 EuroHedge Awards. The fund seeks to capitalize on inefficiencies in capital structures, particularly the relationship between equity and credit instruments. After posting losses of 9.0 percent in 2022 and 3.2 percent in 2023, Tidan Fund has seen a sharp turnaround in 2024, delivering a 33.9 percent gain. This strong performance, according to the team, reflects a normalization in the equity-credit relationship, which had been distorted by extensive central bank interventions in the decade following the global financial crisis.

“Winning at the EuroHedge Awards isn’t just about a trophy—it’s recognition of the hard work and relentless drive our team brings every day.”

“Winning at the EuroHedge Awards isn’t just about a trophy—it’s recognition of the hard work and relentless drive our team brings every day,” says Serge Houles, CEO of Tidan Capital. “We built Tidan Capital with a vision, and to see it acknowledged like this is incredibly rewarding,” he emphasizes. Houles also extended his appreciation to the firm’s core investment team—Michael Falken, William Wilson, and Aram Hussein—as well as to their investors and supporters. “A huge congratulations to our fundamental credit and equity team, our investors, and everyone who believes in what we do. This is just the beginning.”

Ridge Capital Northern Yield

Nordic hedge funds dominated the nominee list in the “Fixed Income” category at the 2024 EuroHedge Awards, with Swedish newcomer Ridge Capital Northern Yield taking home the top prize. Ridge Capital Northern Yield employs a tailored, flexible, and alternative approach to capitalize on opportunities in the Nordic high-yield corporate bond market. Since its launch in early 2023, the fund has delivered an annualized return of 18.5 percent.

“While we take a moment to celebrate this milestone, our pursuit of excellence never stops. We remain committed to working hard and delivering top returns.”

“This achievement would not be possible without the trust and support of our investors and friends of Ridge Capital – this award is as much yours as it is ours,” comments Måns Levin, co-founder and CEO of Ridge Capital. “While we take a moment to celebrate this milestone, our pursuit of excellence never stops. We remain committed to working hard and delivering top returns. 2025 already looks promising with many more investment opportunities to capitalize on.”

Svelland Global Trading Fund

Svelland Global Trading Fund, led by Norwegian Tor Svelland, won the “Long-Term Performance (5 Years)” award in the “Macro, Futures, Fixed Income & Relative Value” category at the 2024 EuroHedge Awards. The long/short equities and commodities-focused fund has been the top-performing hedge fund in the Nordics over the past five years, delivering an annualized return of 30 percent.

“The Long-Term Performance (5 years) award is especially rewarding, as it reflects our sustained success in what is a volatile market sector.”

Having received nominations in two categories – long-term performance and best commodities fund – Svelland Capital ultimately took home the award for long-term performance. After three consecutive years of being nominated at the EuroHedge Awards, “this year is particularly special as we have received two performance-based nominations,” the Svelland Capital team shared. “The Long-Term Performance (5 years) award is especially rewarding, as it reflects our sustained success in what is a volatile market sector.”