Investment strategy

In Listed Core Investments, we create value through active ownership in publicly traded companies. We seek to invest in attractive companies where we share the mindset of other significant shareholders, Boards, and management teams. We target high-quality Northern European mid-cap companies, and typically aim at being one the largest owners, working actively through nomination committees and the Board of Directors. A precondition for our Listed Core Investments is that we can articulate an actionable investment thesis which can justify above-market expected returns.

Our current LCI portfolio includes:

We focus on global fund investments managed by best-in-class Private Equity managers covering the entire lifecycle of firms (venture capital, growth equity and buyout). In addition, we make selected high-conviction co-investments alongside fund managers and selectively evaluate opportunities in the secondary market. Over the past decade, we have made more than 50 private market investments globally, including fund commitments and co-investments, supporting leading private market sponsors. We aim to be a highly professional, value-adding, and flexible Limited Partner and co-investment partner. Our relationships are built on trust and professionalism and are long-term by nature.

Liquid Investments is a global strategy deploying capital into listed equity- or equity-like investment opportunities, both index products and single names. All investments will by nature be liquid. By actively managing our portfolio through our in-house team, we aim to achieve both above-market returns and improve our portfolio’s overall return / risk, and liquidity profile.

Investments in Absolute Return Strategies focus on external global hedge funds with a diverse set of underlying strategies, e.g., event-driven, long-short, and macro strategies. Multi-strategy funds will typically constitute a meaningful part of this allocation. The purpose of this sub-strategy is to provide an attractive return / risk profile with low correlation in relation to our other investment strategies.

We always aim to invest, directly or indirectly, in companies with a long-term competitive advantage, which can justify attractive returns over the cycle. We believe that long-term competitiveness and value creating growth require that sustainability is deeply embedded in companies’ strategies and business decisions. This holds true across all our investment strategies. We focus our direct ESG efforts where we believe we can achieve the highest impact.