Storebrand creates one of the largest Nordic private equity organizations through the acquisition of Cubera.
The combined unit will count nearly 20 investment professionals and manage more than EUR 3bn. After the merger, Cubera will operate as a boutique under Storebrand Asset Management with relationships to more than 200 funds and 100 managers globally.
- Cubera and Storebrand make a perfect match. Both teams have extensive private equity experience and deep knowledge, but operate in different markets with different investors, says Cubera Managing Partner Kine Burøy-Olsen. Joining forces will strengthen our position, both in the Nordics and internationally. We are proud of what Cubera has achieved so far and look forward to exploring the opportunities arising from this merger.
Cubera has since 2006 offered institutional investors exposure to Nordic private equity, primarily through the secondary market. Storebrand has more than 20 years’ experience with private equity and global investments for Nordic clients.
- We believe this merger combines the better of two worlds: unchanged boutique operation combined with institutional backing. Cubera will continue to operate under the same brand with the same location, same strategy, same focus, and same team. As Cubera partners, we will continue to work for Cubera in unchanged capacities and increase our investments in future funds, Kine Burøy-Olsen continues.
Cubera will form a subsidiary to Storebrand Asset Management and be ringfenced as part of Storebrand’s multi-boutique platform.
- Clients demand broader and more diversified investment offerings, and this positions us more strongly towards alternative investments, says Storebrand EVP Asset Management Jan Erik Saugestad.
The merger will have no impact on strategy, team nor governance for existing Cubera funds.
The transaction is contingent on public and private approvals.
Storebrand's ambition is to be the best provider of saving for pensions. Storebrand will deliver sustainable solutions adapted to the customer's individual situation, so that each person receives a better pension in a more sustainable world. Storebrand has about 40.000 corporate customers and 2 million individual customers, and has its headquarter at Lysaker outside of Oslo, Norway. Storebrand manages more than NOK 700bn and is Norway's largest private asset manager. We work hard to fulfil our vision: Recommended by our customers. Storebrand (STB) is listed on Oslo Stock Exchange.
Storebrand Investor Relations website: www.storebrand.com/ir
Cubera, established in 2006, advises more than EUR 900 million for an international investor base. The investment activity focuses entirely on investments in Nordic buyout funds. The firm is active in primary fund commitments, secondary acquisitions of fund shares, co-investments and fund restructurings. The professional team has been involved in private equity since the late 1980s and operates out of Oslo and Stockholm.
Cubera website: www.cubera.no
Kine Burøy-Olsen, Managing Partner. firstname.lastname@example.org T: +47 917 39 693