Alternative Investments

Absolute Return

Since 2007, our team has been focused on delivering attractive, uncorrelated returns to our investors, by investing in a variety of hedge fund and niche private credit strategies. Applying our time-tested philosophy and process, we construct all-weather portfolios that not only generate stable and reliable returns for our investors, but also protect client capital in times of market stress.

Our highly experienced investment team has one of the industry’s best long-term track records. Our senior portfolio managers have more than 20 years’ experience each in managing hedge fund portfolios. We are process-driven investors, and place great emphasis on investment and operational due diligence, which is conducted by separate, independent in-house teams.

We instill a strong alignment of interests with our investors through co-investments across our portfolios.

We invest in two main areas:

Hedge Funds Strategies

We invest in exceptional hedge funds across strategies and asset classes. Our portfolios typically gravitate towards “Scale Alpha” from large hedge funds, as well as “Niche Alpha” from specialized hedge funds. All our hedge fund managers share the same characteristics of proven track records of significant alpha generation and rigorous risk management, and therefore tend to be inherently capacity constrained.

Liquid Alternative
Credit Funds

We invest globally in funds that target small, underserved private credit niches. The underlying investments are typically senior secured in the capital structure with strong collateral protection, have moderate loan-to-value ratios, and feature short duration maturities. We have invested in funds across Trade Finance, Real Estate Bridge Finance, Factoring, as well as Other Asset Backed Lending Strategies.

Energy Infrastructure

Our aim is to deliver low-cost renewable energy in the form of power, or hydrogen fuel – whenever it’s needed, however it’s needed.

For over a decade, we have been active as an asset manager specialised in renewable energy investments and the greenfield segment. We have established a strong track record in particular for complex and tailor-made energy infrastructure projects in the Nordics. Overall, we have closed over 40 pan-European transactions across different technologies and built out several customized mandates for institutional investors.

Our focus has been on equity investments, in core+ and value add strategies; over the last years, we have also built a significant expertise in mezzanine financing.

Our strategy is to optimize all aspects of the projects by investing early on, refining permitting and negotiating all commercially important contracts for the realization and operation of the projects.

Our experience includes a wide range of financing and power purchase agreement solutions.

We have been enabling energy transition by investing in a wide range of green power generation technologies (onshore wind, solar, hydro), as well as other energy assets like Power-to-X and continue to actively contribute to the energy transition. Our proven business model is implemented across the entire value chain of renewable energy generation to Power-to-X technologies to deliver attractive returns and reduce risks for our investors. Besides our ongoing focus on new green electricity, our hybrid strategy comprises investments in technologies such as Green Hydrogen [H2] and Green Hydrogen Derivatives (e.g. Green Methane [CH4], Green Ammonia [NH3]), Sustainable Fuels production and Battery & Energy storage.

Our dedicated team of 24 professionals from diverse backgrounds, from engineering to finance, takes an integrated and modular approach, providing a one stop shop for investment and asset management. Our strategy is applied through various work streams, from project development, investment and transaction structuring, commercialization, to construction management and asset management.

Private Debt

Our investment team is active across various private debt asset classes, with a deep heritage in asset-based lending and a particular focus on real estate and infrastructure debt.

We specialize and invest across senior debt, whole loans/ unitranches and mezzanine/ junior debt. Over the past eight years, the team has invested a total transaction volume of more than EUR 3.5bn across more than 40 countries in a variety of market environments.

As part of our distinctive investment model, we tap into independent, multi-channel sourcing, with excellent and longstanding relationships to sponsors, complemented by selected banks and advisors. We enjoy an exclusive partnership with market-leading banks.

With the advantages of thorough visibility and a well-established network, we have direct access to debt markets to identify opportunities for our investors. Our credit expertise and proven ability to structure investments based on regulatory and individual requirements for different types of investors, is a key factor for success in private debt investing.

We apply an in-depth, independent due diligence process, along with rigorous investment analysis by our experienced origination and execution and structuring teams, supported by external appraisers and legal advisors. Our in-house professionals include technical engineers, legal counsel and workout experts.