The Stockholm-based fund manager, which is owned by private-equity firm Altor’s asset manager Carneo, will take over assets under  anagement of almost SEK 10bn by acquiring fixed-income and equity funds managed under the Alfred Berg name, according to a statement.

“Carnegie Fonder is set to grow, and this gives us an opportunity to do it through an attractive acquisition,” Chief Executive Officer Hans Hedstrom, who currently oversees about SEK 72bn, said in the statement.'

The takeover needs approval from the Swedish financial regulator and is expected to be completed in the fourth quarter.

It doesn’t include any new personnel. The parties didn’t disclose any financial details. The funds being taken over are Alfred Berg’s Kortrantefond
Hallbar, Ranteallokering Plus, Obligationsfond Plus Hallbar, Foretagsobligationsfond Hallbar, Alfred Berg Ryssland, Fastighetsfond Norden, Alfred Berg Bull, Alfred Berg Bear and Hallbar Tillvaxt Sverige.