Swedish Bank Plans New Hedge Fund, Reopened P.E. Vehicle

Jun 24 2009 | 2:18am ET

Swedish banking group SEB is jumping back into the alternative investments business with both feet. Its fund management division plans to launch a new credit hedge fund in the fall, while reopening its listed private equity vehicle in August.

The new global credit hedge fund aims to take advantage of the volatility in the debt market, Reuters reports. The fund will take both long and short positions in investment grade and high-yield bonds, seeking mispricing opportunities, SEB global head of investment management Peter Branner told the news agency. It will employ leverage to boost returns, he said.

SEB is targeting institutional investors and private banking clients, it said.

Meanwhile, the firm has doubled its private equity team with a pair of hires, and plans to reopen its fund this summer. The p.e. fund will invest in infrastructure deals as well as picking up p.e. fund stakes on the secondary market.

“Forced sellers are a good starting point,” Branner told Reuters.


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