AMWatch

Private market funds specialist names new CEO for European expansion

Global asset management boutique Affiliated Manages Group is losing its Head of European Distribution for the past decade Michael Moth Greve, who now takes on the role as CEO at a Copenhagen-based investment firm with expansion plans.

Michael Moth Greve. | Photo: PR / NIO

Copenhagen-based Nordic Investment Opportunities (NIO) has appointed Michael Moth Greve as Chief Executive Officer, the company announces in a statement.

Moth Greve most recently served as Head of European Distribution at one of the world's largest asset management boutiques, Affiliated Managers Group.

"It is indisputable that many investors today have too low an allocation to alternative investment strategies, and this has only been reinforced by the low-interest-rate environment," Moth Greve says in the statement, and continues:

"NIO offers investors a unique platform, providing access to a one-stop-shop for the best alternative investment strategies, which are normally reserved for the largest institutional investors."

NIO's appointment is scheduled accordingly with Mogens Thorninger's resignation of his role as interim CEO, and he will focus on his role at CIP.

Getting own manager license

In the summer of 2019, NIO launched its first fund of funds. Initially, the plan for the company was to enable the partners at CIP and NREP and their holding companies to diversify their investments into private equity and infrastructure via co-investment vehicles.

However, it also turned out that many other professional investors wanted to join in, which is why the firm decided to obtain a AIFM license in 2020.

"So far, we have raised DKK 5bn (EUR 670m) from primarily Danish and Swedish investors, and the company already manages larger investment commitments than expected. That's is why we have chosen to apply for and gain a full license as an alternative investment fund manager (AIFM)," Mogens Thorninger, now previous CEO told AMWatch at the time.

NIO manages approximately EUR 1bn, and the capital has been raised primarily in Denmark and the Nordic countries. The investor base includes two of Denmark's biggest family offices Lind Invest and Kirk Kapital. Other investors typically include wealthy individuals, family offices, unions, insurance companies and industrial foundations, which used to preserve their assets through bond portfolios.

Chairman: Perfect choice to lead the coming growth journey

NIO's chariman Bjarne Graven Larsen, who is also the CEO and founder of systematic asset manager Qblue, is pleased to present Moth Greve as NIO's new CEO.

"NIO is on track to establish itself as the leading manager of alternative investments to smaller investors in Northern Europe, and as a part of the expansion plan, Michael is the perfect choice to lead the coming growth journey," the former CIO at ATP and Ontario Teacher's Pension Plan says.

"He has in-depth knowledge of managing alternative investment strategies and extensive experience with European expansion," he adds.

In October, NIO announced that it had committed to two private market funds: One by global infrastructure manager Actic and an Asia-focused buyout fund by global private equity firm Blackstone.

"We look forward to the partnership and are thrilled to add the commitment to our diversified portfolio of best-in-class private market investments," NIO wrote in a statement when announcing the investment in the fund Blackstone Asia II.

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