Our Portfolio

  • We have a long only approach to the financial markets with select hedges where relevant. We use insights from real-time private market exposure to shape our public thesis. Our portfolio generally holds c. 8-14 names based on cycles and what we consider the attractiveness of the prospects for the names we follow. We focus on risk adjusted returns deploying a mix of fundamental and flow analysis. We look at block, market and bookbuilding trades.

Public

Private

  • Guard is a specialist in process automation control and insight services with roots in Norway. With deep operational technology capabilities, Guard’s customers span water, wastewater, energy, infrastructure and process industries. Guard delivers fully integrated control systems with appropriate data capture through, its proprietary software application, to optimise processes, improve efficiency and understanding complex correlations and relationships, leading to cost savings and an improved environment. Among the more critical tasks, Guard secures the OT/IT attack vectors through its cyber security capabilities.

    Key investment highlights:

    • Key market for data enhanced operability and efficiency

    • Growing market with many niche protections

    • Tech enablement of traditionally non existing or manual services

    • Strong and deep relationships with customers where the business can do more

  • Jordanes aims to be the Scandinavian Consumer Brand Champion offering consumers iconic Scandinavian brands. Jordanes believe that the best brands combine great quality ingredients, attractive and convenient designs, as well as being sustainable.

    Since inception in 2007, Jordanes have expanded the portfolio to include iconic brands such as Sørlandschips, Synnøve, Peppes Pizza and Bodylab. The current portfolio includes more than 30 brands spanning across four complementary business areas: branded foods, international brands, fitness & beauty and casual dining.

    Jordanes has more than 2,700 employees across the Scandinavian countries, the UK, and the Baltics together with 9 local production facilities in Norway, Sweden and Denmark. The brands reach the Scandinavian consumer across all channels and occasions throughout the day, with small-ticket everyday purchases.

    Key investment highlights:

    • Low volatility in end market

    • Margin improvement opportunities through production consolidation and direct to consumer channels

    • Buy and build opportunity

  • Sunde Group is the company that originally laid the foundation for an entire industry by developing EPS technology—the process of converting polystyrene into Isopor®. Today Sunde Group is a world leader in the field, and under the brand names Sundolitt® and Sunpack® offers industry-leading solutions to the construction and civil engineering industries, as well as packaging solutions for the fish and food industries.

    The company started in Ålesund in 1917 and is now an international industrial group with operations at around twenty locations across six countries in Europe. Sunde Group has annual revenues of approximately NOK 3 billion.

    Sunde AS owns the trademarks “Isopor” and “Sundolitt,” which are widely used terms for EPS.

    Key investment highlights:

    • Deep market insights

    • Industry ready for European consolidation

    • Significant barriers of entry through continuous best practice execution