German management company (ManCo) Universal Investment has bolstered its presence in the Nordics following its purchase of Swedish third-party ManCo and fund administrator FCG Fonder.
Universal, which is ranked as the third largest ManCo in Europe with €1.4 trillion in assets under administration has been building up its presence in the Nordics for some time, opening its Sweidh office in Stockholm in 2022.
The acquisition, which is still subject to regulatory approval by the Finansinspektionen, has accelerated this process.
FCG Fonder, which was established in 2014, has €4.6 billion in assets under administration. with around 50 Sweden-domiciled funds across equity and fixed-income investment strategies.
“This acquisition represents a significant milestone in the expansion of our Nordic platform and underscores our commitment to our Nordic clients,” said Universal CEO Francesca McDonagh.
