RASMUSSENGRUPPEN AND ARCTIC FORM A PARTNERSHIP TO DEVELOP A LEADING ASSET MANAGEMENT BUSINESS
(Thomson Reuters ONE) - Rasmussengruppen AS is joining as an equal partner in a move to develop aleading Norwegian asset manager, and at the same time will acquire 21% of theshares in Arctic Securities ASA.Arctic Securities was incorporated in March 2007 and commenced operations inAugust of the same year. The company has until now been owned by its employees.Since it was established Arctic Securities has established a leading position inthe Norwegian securities market and has now more than 90 employees. Last yearthe company was the leading adviser in Norway on mergers and acquisitions (M &A) measured by the number of transactions. Arctic was also ranked first inProspera's survey of Norwegian professional private clients and moved up fromtenth to sixth place in Kapital's ranking of analysts published in 2010. Withregard to debt capital Arctic managed more than NOK 15 billion in issues in theNorwegian bond market in 2008 and 2009.As a new and significant minority owner Rasmussengruppen will have a seat on theboard of Arctic Securities, and contribute to securing the company furthercapital to fund future growth.Rasmussengruppen is viewed as one of Norway's leading investment operations andmanages today an aggregate investment portfolio of approximately NOK 5 billion.A new asset management business based on the combined expertise ofRasmussengruppen and Arctic will provide a good basis to attract externalinvestors. Rasmussengruppen will invest a substantial amount in one or more ofthe funds.Arctic's already established brand name as a finance house provides a furtherbasis for the new joint venture's potential as an asset manager. Arctic hasobtained the necessary licence and registration in Norway and Ireland, whiletechnical backup and an international administrative system are in place tooperate various types of investment funds."The employees in Arctic Securities will continue to be the main owners in thecompany but we are pleased to be joined by a highly reputable, professional andsolid partner. We believe that Rasmussengruppen's involvement represents asignificant strengthening of our efforts to develop a leading Norwegian assetmanagement business," comments Mads H. Syversen, Chief Executive of Arcticsecurities.Dag Rasmussen, Chief Executive of Rasmussengruppen adds: "Arctic Securities hasestablished in the space of a short time an impressive position in the Norwegiansecurities market and represents a very attractive investment opportunity forus. We are very familiar with the sector and believe we can contribute tocreating an even stronger company."For further information please contact: * Mads H. Syversen, Chief Executive, Arctic Securities, tel: 48 40 31 01 * Dag Rasmussen, Chief Executive, Rasmussengruppen, tel: 38 12 22 00[HUG#1380993] Press release (PDF): http://hugin.info/142970/R/1380993/340431.pdf
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Datum: 05.02.2010 - 01:02 Uhr
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