Nordic firm to launch Lux hub in global expansion plan

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Alternative asset manager Coeli has stepped up its efforts to increase its presence beyond the Nordic region by outlining plans to set up a Luxembourg-based fund management hub.

The Stockholm-based company said it has undertaken the move in order to tap a wider foreign investor base beyond its existing client lists.

Coeli has filed for a management company licence through the Commission de Surveillance du Secteur Financier, which is still subject to regulatory approval.

This will allow it to set up a base to sell its funds to a wider European audience.

Commenting on the expansion plans, Lukas Lindkvist, head of asset management at Coeli, said: ‘We have seen a growing demand from foreign investors for our asset management solutions.'

'The decision to start a fund management company in Luxembourg is a natural step to better meet current and new investors’ wishes.'

In order to help drive Coeli has hired former BankInvest managing director Johan Lindberg to the role of CEO for Coeli Asset Management.

Lindberg, who also previously worked for SEB and Dexia Investors, was based in Luxembourg with BankInvest until it opted to close its operations in the country last July.

This push for more of a global presence follows moves by Coeli last summer to increase the exposure for its unique weather-based power trends hedge, the Coeli Power Surge.

The fund, which aims to capture prices trends in the Nordic power generation markets based on weather fluctuations, was launched on the Deutsche Bank liquid hedge fund platform.