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Carneo waiting to pounce Finnish acquisition target

With Norway well under the belt, Carneo is now waiting for an opportunity to arise in Finland. CEO Christoffer Folkebo has his eyes on some independent asset managers, but they will need to split up to become acquisition targets. "We are hungry, but we will wait for the right moment," Folkebo tells AMWatch.

Christoffer Folkebo, CEO of independent asset management group Carneo is eying some investment targets in Finland. | Photo: PR/Carneo

This week Carneo announced its first acquisition in a long time. Buying Norway's largest independent, active asset manager, Holberg, took some time, Carneo Chief Executive Christoffer Folkebo tells AMWatch in an interview, revealing that the Nordic asset management group has its eyes on some possible targets in Finland but that he's waiting for the right moment to arise.

Wednesday, Carneo closed a long-awaited deal with Holberg. Founded in 2000, the latter now has 25 employees and NOK 25bn (EUR 2.4bn) in assets under management.

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