Carneo to acquire equity interest in Albatris
Carneo AB has announced today that it has agreed to acquire (via its subsidiary Carneo Alternative Solutions AB) approximately 35% of the equity in Albatris AB (Albatris), with Albatris’ management retaining 65%. Albatris’ ambition is to be a leading investment company in the Non Performing Loan (NPL) segment of European alternative credit investments.
Carneo’s investment is consistent with its strategy to invest in focused independent firms with strong investment led cultures. The Carneo group was founded in 2016 by its majority owner Altor Fund III and is the largest independent asset management group in the Nordics with over EUR 23 billion in assets under management.
“We see great potential in Albatris as an investor in European Non Performing Loans”, says Arne Lindman, Chairman Carneo. “The supply of this asset class is growing strongly as a result of banking regulation that necessitates the sale of up to EUR 1 trillion in NPL assets. Carneo sees a clear trend where many institutional investors are looking for alternative investments with high potential returns and balanced risk”.
“This collaboration with Carneo is a key step to accelerate our business”, says Arash Talebinejad, Managing Partner Albatris. “We see a strong and complimentary partner in Carneo Alternative Solutions, where we jointly have the best prerequisites for building a leading investment company specializing in Non Performing Loans”.
Carneo is the largest independent asset management group in the Nordics, with over EUR 26 billion in AuM. Carneo operates a multi-boutique structure, which preserves the independence and identity of the affiliated managers. The group consists of C WorldWide, Carnegie Fonder, OPM, Nordic Cross Asset Management, Carneo Investment Solutions and Albatris.