Karl Oscar Strøm, former partner at Pareto Securities, is launching his own fund company called Paleo Capital, and a hedge fund called the Paleo Fund. Strøm tells Finansavisen he plans to raise up to NOK 100m in February and that the fund will be launched on 1 March.
"I am in the process of starting a hedge fund. All I need now is capital. I have not been able to raise capital while still working for another company but I have gradually started talking to people in my network," he says.
"If I had to compare its strategy with another fund, it would be that of US Renaissance Technologies' Medallion fund. This fund has been in existence for more than 20 years and has an average position in the shares it owns in just two days. My fund will have some positions that are very short-lived, and some that last for several weeks," Strøm explains.
Strøm has already quit his job at Pareto, where he has worked for the past five years. Before that, Strøm worked as an investment economist at Nordnet and as a stockbroker at Fondsfinans, Handelsbanken and Terra Securities.
English Edit: Nielsine Nielsen