On Thursday, it was announced that Storebrand has increased its stake in the Danish infrastructure manager AIP Management from 10% to 60%.

This gives Storebrand control of AIP, which manages a total committed capital of approximately NOK 90bn (EUR 8bn). The infrastructure fund manager, founded in 2012, is headquartered in Copenhagen and specializes in energy and infrastructure investments that facilitate the energy transition in Europe and North America.

According to Norwegian business daily Finansavisen, the head of research at Carnegie Investment Bank Norway, Johan Ström, is not particularly enthusiastic about the investment, which amounts to NOK 330m (EUR 29m), according to Infrastructure Investor.

”Storebrand has a lot of capital. Actually, too much. That’s why it’s good to see that growth is in focus, but here, Storebrand is paying for something that we don’t think contributes much to the bottom line. In that sense, it’s money out, but not so much in, at least in the short term,” says Ström.

He adds that the acquisition can create good value for Storebrand over time if the company manages to increase AIP’s total assets under management with a positive margin.

AIP Management will continue to operate under its own brand and be managed by its current partners. The collaboration with Storebrand gives AIP access to a larger market position and more investor relations, the parties stated in a press release. 

(This article is provided by our Norwegian sister media, FinansWatch.no. It was translated using DeepL with additional editing by Kristoffer Grønbæk)