Nordea AM takes stake in Madrague Capital Partners

Ridhima Sharma
clock • 1 min read

Nordea Asset Management (AM) has signed an agreement to acquire a 40% stake in Stockholm-based asset manager Madrague Capital Partners.

The partnership combines Madrague’s well-regarded hedge fund investment competence with the strong Nordea Asset Management distribution network in the Nordics and the rest of the world.

Nordea Asset Management plans to launch a global long/short equity fund managed by Madrague Capital Partners. The fund will complement Nordea Asset Management’s product offering.

“The combination of Madrague’s hedge fund strategy and Nordea Asset Management’s great distribution power is a perfect match. As one of the leading asset management firms in Europe Nordea will boost Madrague as we continue to produce very competitive returns for our clients,” says Lars Frånstedt, CIO, Madrague.

The share purchase is conditional on approval by the Swedish Financial Supervisory Authority and expected to close during Q3.

More on