Scandinavia counts as one of the richest regions in Europe, consisting of Sweden, Norway, Denmark and some parts of Finland. Many single family offices (the investment firms of wealthy families) are located in the Nordics. A major investment trend in the single family office landscape within the last 10 years were investments in private companies – called private equity. We will introduce you to three major Scandinavian single family offices who invest in PE.
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#1: Ferd, Norway – Active private equity ownership
Ferd is the investment company and family office of Johan H. Andresen and his family. The Norwegian SFO invests in listed companies, private companies, real estate, special situations, external funds and social entrepreneurs. In total, the firm managed NOK 32.3BN in 2017 (approximately €3BN). For its private equity investments in unlisted companies, Ferd focuses on an active ownership role. Portfolio companies are Aibel, Brav or Interwell. Aibel is a Norwegian service company for oil, gas and renewables. Brav is a consumer goods company in the sport and outdoor industry. Interwell is also a technology provider for the oil and gas industry.
#2: Awilhelmsen, Norway – From shipowners to long-term investors
Wilhelmsen family made their fortune in 1939 as shipping company. Over time, the family company developed to a major Scandinavian investment firm, active in private equity, real estate, shipping, retail and industrial investments. As usual for single family offices, the firm is a long-term investor focused on sustainable investments. The first private equity investment was consumer electronics chain Expert in 2007. Today, PE investments are dealt through the “Awilhelmsen Capital” division. In 2018, Norwegian eHealth company DIPS was acquired.
#3: Pontos, Finland – €5-20M investments with no industry restrictions
Pontos is a Finnish family office that invests in real estate, private equity funds and direct private equity investments. The family investment company of Ilpo Kokkila was established in 2001 as the real estate division of construction company SRV was split into an own passive firm. Ponto’s portfolio companies employ more than 6,300 persons, and make a yxearly turnover of €700M. When it comes to private equity, Pontos has no industry restrictions and invests in transactions between €5-20M. Portfolio companies are Valmet Automotive (service provider for automotive engineering), R8tech (technology company to reduce buildings’ energy consumption) or Blueprint Genetics (genetics biotech startup).
Picture soruce: Ava Coploff
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