AMWatch

Storebrand buys rest of Skagen and floats idea of more takeovers

The Norwegian insurance and pension provider Storebrand has bought the last 9 percent of equity in the asset manager Skagen. According to Storebrand Asset Management’s CEO, new acquisitions may be on the cards as a way of ensuring future growth.

Skagen's corporate headquarter is in the Norwegian city Stavanger. Skagen manages EUR 8.1 billion on behalf of 120.000 customers. | Photo: PR: Skagen fondene

In the autumn of 2017, Storebrand bought 90.95 percent of the Norwegian mutual fund provider Skagen. In the first quarter of this year, Storebrand acquired the last 9.05 percent and gained 100 percent control of Skagen.

The deal has made Storebrand a top-three mutual fund provider, according to the firm's Q1 report.

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