After more than a decade helping build Malmö-based asset management firm OQAM, co-founder and Chief Investment Officer Thorbjörn Wallentin is stepping away from his operational role as the firm’s business has gradually evolved towards a greater focus on fixed-income credit. Following the successful launch of Mercurius Credit Fund, which targets the Nordic BBB segment and recently passed its three-year track record, the strategy has become an increasingly central part of OQAM’s business. The shift in focus also marks a natural transition point for Wallentin, whose investment background and interests have largely centered on quantitative investing and absolute return-oriented multi-asset strategies.
“After more than a decade building OQAM from the ground up, it is time for me to close one chapter,” says Wallentin. “OQAM is now entering a new phase, with Mercurius Credit Fund becoming an increasingly central part of the business. As the company develops in that direction, it also marks a natural transition point for my own role.” He sees the move as an opportunity to refocus on his longstanding investment interests. “For me, that means an opportunity to return more of my focus to the things that have always motivated me most: investing, markets and building.”
“After more than a decade building OQAM from the ground up, it is time for me to close one chapter.”
OQAM initially built its business around systematic investing, launching its multi-strategy hedge fund ia in 2018. The fund employed proprietary quantitative models across directional and relative-value strategies, including trend-following, systematic asset allocation and macro investing. In late 2022, the firm decided to make the investment platform behind ia available through individual strategies rather than continuing to combine them within a single multi-strategy vehicle.
Alongside this business, OQAM expanded into Nordic corporate credit, launching Mercurius Credit Fund in partnership with a large single-family office that outsourced its credit portfolio to the firm. Targeting the Nordic BBB segment, the fund passed its three-year track record milestone this summer and has since become an increasingly important part of OQAM’s business.
Reflecting on the journey, Wallentin describes the firm’s development as extending well beyond the investment business itself. “What started as a slightly naive idea became an investment firm, external capital, live portfolios, a research platform and — most importantly — people I have learned a great deal from and shared many memorable moments with along the way,” he says.
“I am proud of what we built, and I will remain on OQAM’s board and as a shareholder.”
He also expresses gratitude to the investors and shareholders who supported the firm throughout its development. “I am deeply grateful to our shareholders and investors who trusted us along the way — including those who backed OQAM when it was still much more of an idea than an established investment business,” he says. Although leaving his operational role, Wallentin will maintain a connection to the firm as a board member and shareholder. “I am proud of what we built, and I will remain on OQAM’s board and as a shareholder.”
