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East Capital acquires Monyx Asset Management

Swedish emerging market specialist acquires fellow Swedish group which manages €3bn in equity and fixed income funds


David Robinson

Swedish asset manager East Capital has acquired fellow Swedish fund management company Monyx – consisting of Monyx Asset Management and Nordic Fund Services – from its owner NewCap.

Monyx manages more than €3bn in Nordic and global equity and fixed income funds.

Once the transaction is completed Monyx will become a fully-owned subsidiary of East Capital.

Monyx will continue to operate as a separate entity focusing on Nordic and Global strategies and East Capital Asset Management will retain its focus on emerging and frontier markets.

East Capital and Monyx both have offices and operations in Sweden and Luxembourg. There are significant economies of scale to be achieved in support functions and in the procurement of administrative and other external services linked to portfolio management, East Capital said in a statement.

“We see a great opportunity in sharing our institutional investment management experience, as well as our strong sustainability and governance expertise. We plan to develop and support Monyx by providing additional resources to the investment team.” says Albin Rosengren, partner at East Capital.

This acquisition entails a change of ownership that requires approval by Swedish Financial Supervision Authority before the deal completes.