SEB Merges Key Asset Management With Alts Team

Feb 7 2012 | 8:08am ET

Swedish financial services group SEB has merged its $2 billion London-based fund of hedge funds manager Key Asset Management with its alternative investment team in Stockholm.

The combined team will be managed by Mikael Spångberg as managing director, Stockholm and Chris Rule as deputy and CIO, London. SEB said in a statement that the two investment teams have worked together informally for the past few years and “bring different specialties to the new venture. Key has one of the oldest track records in the fund of hedge funds industry while the SEB AIT brings competence within the seeding and incubation business.”

KAM became a wholly owned subsidiary of SEB in early 2008.

The merger coincides with the departure of KAM’s chief investment officer, Chris Jones, who will become head of alternatives at the pension consultant bfinance starting next month.

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