Leading Nordic ESG investment firm Storebrand Asset Management announced the opening of a new branch in Copenhagen, Denmark. The launch marks the latest stage in the company’s growth, as demand for professional sustainable investment management solutions increases. Storebrand is the largest private asset manager in Norway, with AUM of approximately DKK 650 billion ($98 billion USD).
To date, Storebrand has reached the Danish market through a distribution agreement with SKAGEN funds, which the company acquired in 2018. Following the acquisition, Storebrand launched five equity funds in Denmark last year, focusing on sustainable, index and multifactor strategies. The goal of the new office will be to offer the entire Storebrand multi-boutique range to the professional segment, while retail clients will continue to be serviced via the SKAGEN distribution agreement.
Commenting on today’s launch, and on the growing relevance of ESG investing, Storebrand Asset Management CEO Jan Erik Saugestad said:
“The sustainable products that Storebrand Asset Management specializes in are gaining a remarkable momentum right now and play an important role in future growth. We have a strong assumption that the interest in sustainable investment will only increase in the future, as we noticed this tendency even before COVID-19. We expect sustainability to play a central role in a green recovery after the pandemic. Danish investors have welcomed our product suite, and our sustainable offering is gaining remarkable momentum. The sustainable solutions that Storebrand Asset Management specialize in play an important role in future growth.”
Saugestad added, “with a strong presence in our Norwegian and Swedish home market, it’s a natural next step to open up a Danish branch as part of our Nordic and International expansion.”
Along with the new launch, Storebrand announced the appointment of Kim T. Andreassen as Director, Head of Institutional Clients & External Distributors at the new Copenhagen branch. Andreassen has been a Senior Relationship Manager at SKAGEN since 2014.
In support of Storebrand’s expansion in the Danish market, SKAGEN CEO Tim Warrington said:
“”There are exciting opportunities in Denmark for a sustainability leader such as Storebrand. We in SKAGEN are pleased that our hard-won lessons in exporting to this sophisticated market can be brought to bear for the benefit of the wider group. The talented and committed SKAGEN team in Copenhagen look forward to continuing the journey together with their Storebrand colleagues.”