Swedish fund company Finserve Holding announced in mid-summer its bid to acquire all shares in specialist asset manager Resscapital AB, a transaction that has been approved by the Swedish Financial Supervisory Authority this September. At the time of the announcement, Mangold was a major shareholder in both companies, holding 49 percent of Finserve and 26.6 percent of Resscapital. Following completion, Finserve’s total assets under management amount to SEK 12 billion across its own and partly owned funds, with Resscapital’s Ress Life Investments contributing SEK 2.7 billion.
Earlier in September, the Swedish Financial Supervisory Authority (Finansinspektionen) approved Finserve Holding’s acquisition of Resscapital AB. The purchase price was set at SEK 122.4 million for all shares in Resscapital, paid through newly issued shares in Finserve. Upon completion, Mangold’s ownership in Finserve was diluted to 41.5 percent, as its 26.6 percent stake in Resscapital was exchanged into shares of a larger and more valuable Finserve with Resscapital onboard.
The acquisition strengthens Finserve’s position as an independent and specialized fund manager, expanding its product offering and expertise in portfolio diversification beyond traditional equity and fixed-income investments further into alternative strategies. Together, Finserve and Resscapital now manage approximately SEK 12 billion across 12 funds.
“We are very pleased that Finansinspektionen has now given its approval. The acquisition creates a stronger platform for our investors and opens new opportunities within niche investment strategies,” says Mats Johansson, CEO of Finserve Nordic AB. “Our focus will remain on delivering strong risk-adjusted returns while further building on the unique expertise Resscapital brings.”
“The acquisition creates a stronger platform for our investors and opens new opportunities within niche investment strategies.”
Mats Johansson, CEO of Finserve Nordic AB.
For Resscapital, the transaction allows the boutique’s specialist expertise in life insurance-related investments to be further developed within the framework of a larger organization. “Becoming part of Finserve is a logical and strategically important step for us. We gain a stronger distribution platform, access to more resources, and can continue our international expansion with greater strength,” says Gustaf Hagerud, CEO of Resscapital AB. “Our team looks forward to contributing our expertise and creating value together with our new colleagues.”
“Becoming part of Finserve is a logical and strategically important step for us. We gain a stronger distribution platform, access to more resources, and can continue our international expansion with greater strength.”
Gustaf Hagerud, CEO of Resscapital AB.
Ress Life Investments is an alternative investment fund specializing in life settlements, acquiring life insurance policies from policyholders who no longer wish or need to maintain them. Managed by a Stockholm-based investment team, the fund aims to exploit pricing inefficiencies in the life settlement market by aggregating individual policies with attractive risk-reward profiles. This approach seeks to deliver a diversified, positively skewed, and uncorrelated return stream. The fund targets a net annual return of 7 percent in U.S. dollars and has achieved an annualized return of 5.7 percent over the past ten years, exhibiting a low negative correlation of 0.12 with the S&P 500. Together with Finserve’s broader suite of funds, Ress Life Investments enhances the group’s capacity to offer innovative and diversified investment solutions to its clients.