Storebrand acquires Danish real estate asset manager

Written by Adam Cadle

31/08/2021

Storebrand has entered into an agreement to acquire Capital Investment, a Danish real estate asset manager and investment advisory headquartered in Copenhagen.

The acquisition of Capital Investment is in line with the strategy presented at Storebrand’s Capital Markets Day in 2019 and reiterated in 2020. This is to look for bolt-on acquisitions that complement the current business to accelerate growth.

"The asset management part of our business has grown significantly over the past years, and we have built a strong position outside our home markets Norway and Sweden. Storebrand is one of the largest and fastest growing asset managers in the Nordics with more than NOK 1trn of assets under management. The acquisition accelerates Storebrand's growth strategy within Nordic alternative assets and will strengthen Storebrand Asset Management's position as the gateway to the Nordics, Odd Arild Grefstad, CEO, Storebrand Group, said.

The transaction will have limited effect on regulatory key figures and the acquisition will not affect the dividend capacity of Storebrand for the accounting year 2021. The transaction is expected to impact the Group's solvency ratio with negative 1.5 percentage points. Profits from the company will back the cash generation for the Storebrand Group going forward.

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