Nordic asset manager Storebrand is buying Danish real estate asset manager Capital Investment for an undisclosed sum.
Storebrand, which manages NOK50bn (€4.4bn) real estate assets has agreed to buy the NOK28bn Copenhagen-headquartered real estate asset manager and investment advisory firm to help accelerate Storebrand’s expansion in Denmark and internationally.
Capital Investment will become part of Storebrand Asset Management’s multi-boutique offering and continue as a separate company within real estate activities.
Odd Arild Grefstad, CEO Storebrand Group, said: “The asset management part of our business has grown significantly over the past years, and we have built a strong position outside our home markets Norway and Sweden.”
Grefstad said the acquisition of Capital Investment accelerates Storebrand’s growth strategy within Nordic alternative assets and will strengthen Storebrand Asset Management’s position as the gateway to the Nordics.
Jan Erik Saugestad, EVP CEO at Storebrand Asset Management, said: “Our growth is a sign of confidence from our clients, and we are well-positioned on ESG and alternatives, the strongest trends in asset management. Capital Investment will strengthen our investment offering in alternative investments – particularly within real estate.
“They have well established Danish and international client relationships, and we see mutual benefits for both clients and Storebrand through this acquisition.”
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