Press release -
Storebrand acquires Danish Real Estate Manager Capital Investment
Storebrand Asset Management has entered into an agreement to acquire Capital Investment, a Danish real estate asset manager and investment advisory headquartered in Copenhagen.
Storebrand Asset Management has grown significantly over the past years and has built a strong position outside the home markets Norway and Sweden. Storebrand is one of the largest and fastest growing asset managers in the Nordics with more than NOK 1 trillion of assets under management.
"This acquisition accelerates Storebrand Asset Management's growth strategy within Nordic alternative assets and will strengthen our position as the gateway to the Nordics. Our growth is a sign of confidence from our clients, and we are well positioned on ESG and alternatives, the strongest trends in asset management. Capital Investment will strengthen our investment offering in alternative investments – particularly within real estate. They have well established Danish and international client relationships, and we see mutual benefits for both clients and Storebrand through this acquisition. Capital Investment and their clients will also benefit from Storebrand's expertise within ESG", says CEO Storebrand Asset Management, Jan Erik Saugestad.
The acquisition of Capital Investment is in line with the strategy presented at Storebrand's Capital Markets Day in 2018 and reiterated in 2020; to look for bolt-on acquisitions that complement the current business to accelerate growth. Capital Investment will become part of Storebrand Asset Management's multi-boutique offering and continue as a separate company within real estate activities.
Gateway to the Nordics
Storebrand is a large and important player in the Nordic real estate industry with assets worth NOK 50 billion under management. Capital Investment, which manages close to DKK 20billion (NOK 28 billion) of assets, will add investment capabilities and a complementary network for deal sourcing to accelerate the expansion in Denmark and internationally.
"We are very happy to welcome Capital Investment as part of Storebrand Asset Management. Our combined resources and knowledge represent a great opportunity to further strengthen our Nordic offering. We experience that many institutional investors seek diversification, and non-Nordic investors have a desire to invest across the region. Capital Investment has over the years built a strong and loyal pool of international tier one clients that wish to invest cross Nordic. By joining forces, we can approach new markets and segments efficiently both in the Nordics and internationally", Saugestad continues.
Capital Investment's CEO Jesper Damborg, looks forward to building a stronger team:
"We are thrilled to join forces with Storebrand Asset Management, a transaction which will combine two strong local market leaders into one pan-Nordic platform for best-in-class real estate asset management services. With Storebrand Asset Management, we are able to continue the differentiated and hands-on work with our properties and customers, while expanding our service palette to bring new and exciting concepts to the table."
Truls Nergaard, Head of Real Estate in Storebrand Asset Management adds:
"This enables us to quickly respond to investors' pan-Nordic need for real estate investments, with feet on the ground in three important markets. The acquisition creates exciting business opportunities in all segments, based on in-depth knowledge of clients in a market often seen as one region".
In picture: Truls Nergaard, Head of Real Estate in Storebrand Asset Management & Jesper Damborg, CEO Capital Investment.
Storebrand Real Estate
Storebrand Real Estate is part of Storebrand Asset Management and manages a wide portfolio of real estate in Norway and Sweden.
Of the total capital managed by Storebrand Asset Management, direct investments in real estate amounts to close to NOK 50 billion, of which NOK 37 billion is in Norway (1,000,000 m2) and SEK 13 billion (250,000 m2) in Sweden. This makes Storebrand one of the largest real estate managers in Norway, active in all commercial segments, such as offices, shopping & retail, logistics and hotels.
Operations include both asset management and property management, meaning investment, sales and operations, including tenant contracts and communication. We also manage projects with refurbishments, new buildings and development projects.
Storebrand Real Estate has a clear sustainability strategy and specific environmental objectives that are implemented throughout our property management. We have a high degree of certified buildings and are rated with four and five starts as a manager in Global Real Estate Sustainability Benchmark (GRESB).
Capital Investment is a Danish real estate investment advisory and asset manager with close to DKK 20 billion in asset under management headquartered in Copenhagen. The company is owned and run by partners Jesper Damborg and Claus Klostermann, which individually have more than 25 years of real estate experience.
Capital Investment delivers a comprehensive suite of real estate investment management services, handling the entire investment process from beginning to end on behalf of national and international clients. From supervision and research to due diligence, development and management, Capital Investment handles the investment until the client is ready to exit. The goal is to provide a platform that enables international clients to invest immediately, retaining the highest possible expertise, but without having to establish a Danish office. Capital Investment aims to become the preferred Danish partner for both national and international investors looking to invest in high-end properties across real estate segments.
More information about Storebrand Asset Management
Storebrand Norway: SVP Group Communications, Margrethe Assev:
firstname.lastname@example.org or (+47) 951 55 056
Storebrand all other markets: Director of Communications Storebrand Asset Management, Sara Skärvad: email@example.com or (+46) 70 621 77 92
Capital Investment: CEO and Partner, Jesper Damborg: firstname.lastname@example.org or (+45) 50 50 22 22
Storebrand is a Nordic financial group, delivering increased security and financial wellness for people and companies. We offer sustainable solutions and encourage our customers to make good economic decisions for the future. Our purpose is clear: we create a brighter future.
Storebrand has about 40.000 corporate customers, 2 million individual customers and manages NOK 1 008 billion. The Group has its headquarters at Lysaker outside of Oslo, Norway. Storebrand (STB) is listed on Oslo Stock Exchange.
Visit us at www.storebrand.no