Following its acquisition by Norway’s second-largest banking partnership, Norwegian fund boutique Borea Asset Management has been expanding not only its fund range and assets under management, but also its team. Having surpassed €1 billion in assets under management, Borea recently strengthened its distribution capabilities with the appointment of Bjørn Matre, who brings more than 19 years of experience in a similar role at Holberg Fondene.

“In April, we had the pleasure of finally welcoming Bjørn Matre to the Borea team,” announces the team at Borea Asset Management. Matre joins from Holberg Fondene, where he spent 17 years leading distribution efforts in Norway, following two years as a senior investment advisor for institutional clients. Before entering the fund management industry, he gained experience in the pharmaceutical and energy sectors.

The acquisition of Borea Asset Management by Frendegruppen – a consortium of independent banks – was intended to leverage Frendegruppen’s broad distribution network. Borea’s new majority owner, Norway’s second-largest banking partnership with approximately 800,000 customers, provides the boutique fund manager with significant opportunities for continued growth.

At the time of the acquisition announcement in mid-2024, Borea Asset Management managed just over NOK 10 billion (approximately €900 million) across one equity fund and four fixed income-focused funds. Since then, the firm has launched three additional funds tailored to the needs of Frendegruppen’s clients. Borea now oversees NOK 12.7 billion (approximately €1.1 billion) in assets under management across eight funds. Its special funds – comprising one equity and three fixed-income funds – continue to represent the majority of the asset base.