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Swedish hedge fund allocates USD 500m to UK managers

Swedish hedge fund Brummer has spent the Covid crisis jettisoning managers that failed to deliver adequate results, creating room for newcomers to fill the gap. Now, the firm is partnering with two investment teams in the UK.

Mikael Spangberg, who oversees Brummer & Partner's flagship fund along with its founder Patrik Brummer | Photo: Brummer & Partners/PR

Stockholm-based fund Brummer & Partners, which has USD 4.3bn in assets under management, is handing USD 250m to Kersley Street Capital LLP and Pantechnicon Advisors LLP each, said Mikael Spangberg, who oversees Brummer & Partner's flagship fund along with its founder Patrik Brummer.

Though both firms were only recently incorporated, Spangberg says he knows the people behind them well, "and they have proved themselves in difficult markets."

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