Nansen Capital pursues Robur in Norway

Nansen Capital Partners, the asset manager set up by two of the original founders of Skagen, is reported to have acquired the business of Swedbank Asset Management in Norway.

This would mean that six Robur funds would now be managed by Nansen Capital, which was set up by Tor Dagfinn Veen and Åge Westbø in 2015 as part of a change to the ownership structure of Skagen. Together with Kristoffer Stensrud, they set up Skagen some 22 years ago. Stensrud has retained a direct shareholding in Skagen, but Veen and Westbø formed Nansen Capital to manage their stake in the Stavanger headquartered asset management firm, while also facilitating investments in other independent Nordic asset managers.

Swedish business publication Affärsvärlden has cited Realtid, which in turn has cited Norwegian newspaper Dagens Næringsliv‘s report on the deal between Nansen Capital and Swedbank. InvestmentEurope has sought confirmation from Swedbank on the deal, which is also cited in Swedish business daily Dagens Industri.

Skagen’s founders have created one of the best known Norwegian asset management brands outside Norway. Between launch in 1993 and 2016, the manager has increased AUM from about €2.4bn to over €10bn, and branched out its market and office presence to the full Nordic region, Germany, Benelux, France, the UK and Ireland.


Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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