East Capital acquires Monyx

Jonathan Boyd
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East Capital acquires Monyx

Swedish manager East Capital has announced that subject to regulatory approval it will acquire Monyx Asset Management and Nordic Fund Services SA from NewCap Holding A/S.

Monyx manages some €3bn in Nordic and global equity and fixed income funds. The proposed deal would see Monyx remain as a seperate entity in the East Capital group, as a fully owned subsidiary. East Capital AM would retain its own focus on emerging and frontier markets.

With some €2.9bn manged currently, the additional AUM would effectively double the size of the overall group; both East Capital and NewCap cite "significant economies of scale to be achieved in support functionsa and in the procurement of administrative and other external services linked to portfolio management."

Both groups have presence in Sweden and Luxembourg.

Albin Rosengren, partner at East Capital, said Monyx would be supported by "additional resources to the investment team."

The deal must be approved by the Swedish Financial Supervisory Authority (Finansinspektionen).

Jonathan Boyd
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Jonathan Boyd

Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope.