Bergen-based Borea Asset Management is expanding its presence in Norway with the opening of an office in Oslo and the appointment of two client advisers, Peter Hartvigsen and Stian Haughem. The move follows a period of growth for the asset manager, which has expanded its fund range beyond its traditional fixed-income focus and more than tripled its assets under management since being acquired by Frendegruppen in 2024.
“We have many clients in and around the capital. Having our own office in Oslo will make it easier to meet whenever the need arises, both for existing clients and for those who would like to get to know Borea better,” the firm says. “We believe there is great value in meeting face to face and that strong relationships are often built through personal meetings. That is why we want to be present where our clients are.”
The new office will initially be staffed by Hartvigsen and Haughem, both of whom bring experience in wealth management and investment advice. Haughem joins Borea from DNB Wealth Management, where he worked as a private banker. He has also held advisory and investment brokerage roles at DNB. Hartvigsen joins from Formue, where he worked as a wealth manager, advising clients on investments, portfolio construction and long-term financial planning. Before that, he was an investment adviser at DNB.
“We believe good advice is built on trust and strong relationships. The Oslo office makes it easier for us to stay close to our clients.”
Calix Black Ndiaye, director of marketing at Borea Asset Management.
“We believe good advice is built on trust and strong relationships. The Oslo office makes it easier for us to stay close to our clients,” says Calix Black Ndiaye, Borea’s director of marketing. “We are confident that Stian and Peter will do an excellent job and become important partners for Borea’s clients in Oslo.”
Borea’s expansion follows its 2024 acquisition by Frendegruppen, Norway’s second-largest banking partnership. At the time of the transaction, Borea managed just over NOK 10 billion across five funds. Today, assets under management have more than tripled to NOK 33.7 billion across a dozen funds, reflecting both substantial growth and a broader product offering beyond the firm’s original fixed-income focus. The firm’s special funds, comprising one equity fund and three fixed-income funds, account for approximately 40 percent of its current asset base.
