Press release -
Pangea expands the group with Debt Advisory
Pangea Property Partners expands its business and establishes Pangea Debt Advisory. The profiles Terje A. Pettersen and John Stene have been recruited from SEB and Swedbank Capital Markets.
- Our clients in both the Nordics and internationally have over time requested debt advisory from Pangea, especially in connection with transactions. This expansion is part of our strategy to become an even more complete provider of transaction and financing advice in the Nordic region. It is natural for us to start with a team in Norway that will probably be expanded with a similar team in Stockholm in the long run, says Bård Bjølgerud, CEO and Partner at Pangea Property Partners.
Recruits experienced duo
Terje A. Pettersen comes from the position as Head of Corporate Loan Origination & Co-Head of Debt Capital Markets at SEB, where he has been for the past 10 years. He becomes Managing Director & Partner at Pangea Debt Advisory. Pettersen has broad management experience and has, among other things, been part of the management team for SEB Norway and for the Investment Banking unit. He has previously been Head of Debt Capital & Partner at ABG Sundal Collier for four years and worked 12 years at DNB, holding several positions including Head of Commercial Real Estate.
John Stene comes from the position as Vice President, Corporate & Institutional Advisory at Swedbank, where he has worked for more than 11 years. He becomes Director & Partner at Pangea Debt Advisory. For the past 10 years he has worked in Investment Banking and Debt Capital Markets. He has also worked a year at Swedbank's headquarter in Stockholm, where he contributed to rebuild Swedbank's DCM High Yield origination team, with a special focus on real estate transactions.
- The Nordic commercial real estate market has a transaction volume of more than NOK 400 billion a year, and a significant part of this is financed by debt capital. The financing market for real estate and debt advisory is also a significantly growing segment in both the Nordics and internationally. Pangea has therefore recruited two of the absolute best at this area in Norway, says Bjølgerud.
- Both Terje and John have strong track records and a competence and profile that makes them a very good fit for Pangea. In addition, both have extensive experience from Swedish banks and the Swedish market, which makes them particularly interesting for Pangea's Nordic strategy, he adds.
Pangea Debt Advisory becomes a completely independent debt adviser without its own lending balance, in addition to being completely product neutral. The main target group is both new and existing customers in the real estate sector, but also new customers in other sectors.
- Within commercial real estate, Pangea is one of the strongest brand names in the Nordics. I am proud of the journey I have been allowed to take part in with SEB for the last 10 years, and although it is sad to leave good colleagues, I am very much looking forward to being a part of this system. Pangea will be a completely independent debt advisor, which will differentiate us from several of our competitors who offer similar services, says Terje A. Pettersen, Managing Director & Partner at Pangea Debt Advisory.
- Pangea has delivered strong results year after year, so it will be very exciting to be a part of this. I have had the great pleasure of working at Swedbank for over a decade, but I could not pass up this opportunity, says John Stene, Director & Partner at Pangea Debt Advisory.
*Norwegian press release
Pangea Property Partners is an independent Nordic corporate finance, project finance and advisory firm focusing on the real estate sector. The company has offices in Oslo and Stockholm with about 40 employees. We also have a strategic partnership in Finland. Since 2010, Pangea has advised on more than 500 transactions with an underlying property value above €35 billion. The mandates include property divestments and acquisitions as well as large corporate transactions, syndication projects, capital raisings and debt financing.