Norwegian asset manager Ness Risan & Partners (NRP) has become a large shareholder in Sweden’s Origo Fonder to broaden its Nordic reach.
The Oslo-based shipowner will not take control of its new partner but aims to tap its small-company and hedge fund expertise.
“The deal strengthens the common position as an alternative asset manager in Sweden and the rest of the Nordic region and creates a solid platform for continued growth,” NRP said.
Ragnvald Risan, NRP managing partner and co-founder, said the transaction, concluded for an undisclosed amount, reflects its long-term strategy.
“Origo Fonder has an impressive history of delivering competitive risk-adjusted returns and we have a similar corporate culture. Together, we can deliver even better added value to our customers,” he added.
The Swedish outfit is an independent fund company formed in 2012.
The team specialises in listed small-company investments in the Nordic region and manages the award-winning hedge fund Origo Quest.
It recently launched the small-company fund Origo Seleqt.
Clients are mainly foundations, municipalities and private individuals.
Origo founder and managing partner Stefan Roos said: “It is a great honour for us to have a collaboration with such a competent player as NRP.
‘Exciting phase’
"We are in an exciting phase and are seeing an increasing demand for our small-company and hedge fund expertise. Together with NRP, we create a unique position to meet the growth opportunities we see in the Nordic small company market.”
NRP generated a return for investors of 187% from its shipping portfolio in 2021, compared with an average figure of 26% over the previous three years.
It said the shipping market experienced a “great recovery” last year.
The shipping book has provided an annual internal rate of return of 26% over the past five years, and 17% since its inception in 2000.
The company is listed with a mixed fleet of 10 bulkers, tankers, car carriers and a container ship under its ownership.
Three more handysize dry cargo vessels and an LR1 tanker are controlled through joint ventures.
A boxship is due for delivery from a Chinese yard next year, and the company has just taken possession of a handysize bulker newbuilding.
