Nordic firm increases stake in AM rival

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Swedish asset management firm Catella AB has sought to take a 25% position in local market rival IPM (Informed Portfolio Management).

The deal, which is subject to regulatory approval, would see the Stockholm-based company increase its existing 5% position in the fellow Swedish company through a new issue of shares amounting to SEK 33 million (€3 million).

Catella, which first acquired a stake in IPM in November 2011, said the new arrangement would allow it to further enhance its asset management expertise.

IPM is a specialist in systematic investment services with a particular focus on indexing and systematic equities. 

At present, the company, which also has its headquarters in Stockholm, manages around €5.3 million in assets on behalf of institutional investors and pension funds.

Commenting on the deal, Johan Ericsson, CEO of Catella AB, said: ‘Through an increased stake in IPM, Catella is increasing its expertise base within asset management with the aim of improving our product offering and strengthening our customer relations.’

Catella AB is more renowned as a Nordic hedge fund but has a host of Ucits and Alternative Ucits strategies, having first entered the Ucits market in January 2011.