Nordic Fund Group Carneo Is Readying for Sale by Owner Altor

Carneo Asset Managers is planning to dramatically scale up operations in the Nordics in preparation for a sale by its owner, Altor Equity Partners.

“It’s a fact that Altor has owned us for 10 years now,” Carneo’s Chief Executive Officer Christoffer Folkebo said in an interview. “It’s in their business model to find a new owner.”

To attract an industry buyer, the Stockholm-based group is itself actively seeking acquisitions, having already met “about 70 of the best independent managers in the region,” according to Folkebo.

Carneo oversees a total of 290 billion kronor ($32.7 billion) of assets through its investment ...