Emerging and frontier markets specialist East Capital has acquired fellow Swedish fund management company, Monyx, from its owner NewCap Holding.
The sale includes Monyx Assex Management and Nordic Fund Services, and Monyx currently manages more than $3.41 billion in global equity and fixed income funds. East Capital, meanwhile, has $3.30 billion in assets under management.
Once the sale is completed, Monyx will continue to operate as a separate entity within the group. Both firms have offices in Sweden and Luxembourg.
Commenting on the acquisition, Albin Rosengren, a partner at East Capital, said: “We see a great opportunity in sharing our institutional investment management experience, as well as our strong sustainability and governance expertise. We plan to develop and support Monyx by providing additional resources to the investment team."
This acquisition entails a change of ownership that requires approval by Swedish Financial Supervision Authority before the deal completes. East Capital is not revealing further details until then.
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