Investment AB Öresund ("Öresund"), a Swedish publicly listed investment company managing approximately €1Bn, has decided to launch an activist fund to take advantage of investment opportunities in listed Nordic companies, where opportunities exists to create shareholder value through operational, structural and/or financial change initiatives.

 

The fund's goal is to be an active owner of 6 - 10 companies, each with a market capitalization of over €1Bn. In the first stage, the fund seeks capital of €500M - €1Bn from institutional investors in the Nordic region, Europe and the US. Öresund will commit up to €200M of its capital and the fund is expected to launch during the second half of 2008.

 

The funds investment advisory committee will be Sven Hagströmer, Mats Qviberg, Jonas Wahlström, Stefan Dahlbo and Stefan Charette. The current deputy CEO of Öresund, Stefan Charette, will become CEO of the fund.

 

Öresund will own 60% and be the majority stakeholder of the management...