Carneo is a modern multi-boutique asset management group, our name is derived from our heritage of association with Carnegie and our structure as a group of Affiliated Managers. The group was formed in 2016 and in the same year we acquired C WorldWide (previously Carnegie Asset Management) and Carnegie Fonder from Carnegie Investment Bank. Carneo is now the largest independent asset management group based in the Nordic region with over €23 billion in assets under management.
The Carneo group consists of a number of independent asset management boutiques, each with their own focus and expertise. Our two initial boutiques, C WorldWide and Carnegie Fonder are well known and respected in the industry. The group has since grown through the acquisition of Optimized Portfolio Management (OPM) and by starting the new firms Nordic Cross Asset Management and Carneo Alternative Solutions.
Carneo’s majority owner is Altor Fund III. Altor is a family of four private equity funds focused on investing in and developing medium sized Nordic companies. Altor’s aim is to create enduring values and make a real difference as a valuable partner for owners and managers in building world-class companies. For more information please visit www.altor.com.
Independence is key
It is our conviction that independent firms with a strong investment led culture and motivated, talented managers are crucial to achieving long-term success.
Therefore, Carneo is formed as an independent multi-boutique, enabling our affiliates within the group to have their own operational autonomy while at the same time benefitting from the scale and strength of being part of Carneo.
World-class active beats passive
Genuine active investment management is the best way to generate superior risk-adjusted returns over the long term. The asset management industry is polarizing; lower cost passive offerings will continue to grow at the expense of active managers who are not providing value for money for their clients. Active managers who outperform passive mangers (after fees) have the right skills and experience in combination with team stability and a clear investment strategy. They invest in what they believe in and a willingness to ignore benchmarks.
Therefore, we have gathered some of the most knowledgeable and talented high conviction, high alpha asset managers in the Nordic region under the Carneo roof. Our asset managers have a proven ability to outperform passive over time and they have the right conditions and the incentives to do so due to the ownership-structure in the group. We encourage our teams to continue to focus on what they do best, while provided the shared services and support they ask for.
Alternative is part of the future
Alternative assets can bring large value to a well-constructed investment portfolio. These benefits include improved returns with lower volatility and correlation. We see significant potential in the provision of comprehensive alternative solutions to institutional investors and family offices in the Nordic region. Certain alternative asset classes offer a durable illiquidity premium over time, and improve the efficiency of investment portfolios versus traditional equity and bond allocations.
Therefore, we founded Carneo Investment Solutions through which we will offer clients a unique opportunity to invest in alternative assets via a tailored solution-based approach.