Aker, which has been the main owner of Norron Asset Management since its launch in 2011, has signed a letter of intent with the other owners of the company to acquire 100 percent of Norron. Business will continue as usual, but an important purpose of the deal has been to place the company in a larger context. The fund management business in Norron will be coordinated with Aker’s other investment in asset management named Industry Capital Partners (ICP). For Norron, the deal means that the fund management organization will be doubled by the inclusion of highly competent and experienced personnel. These people mainly have their background from NBIM, or more popularly expressed the Norwegian Oil Fund. ICP is led by Yngve Slyngstad, who was head of the Norwegian oil fund for 13 years.
The two fund management businesses will be coordinated in a new company with the working name ICP Norron. The staff will be offered the opportunity to reinvest in the new company in order to maintain an ownership incentive for operational partners in the company.
“Through the deal, our competence is deepened and broadened. We get lots of new opportunities to gradually develop our organization and our products. In addition, we get a unique insight into Aker’s industrial know-how, which is highly relevant to what we consider to be central trends for the capital markets for a long time to come. We believe that the coming decades will be characterized by huge investments in, for example, the energy transition, electrification and industrial software. This will have a big impact on the capital markets. Together with our new colleagues, the intention is to develop unique and relevant products for the domestic market and on a global basis with a high focus on customer benefit.” -Ulf Frykhammar
The deal is subject to approval by the authorities.
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