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From Komfie Manalo, Opalesque Asia Nordic financial services group SEB has merged its London boutique Key Asset Management unit with its Alternative Investment Team (AIT) in Stockholm.

The move is part of SEB’s efforts to strengthen its alternative investment offering, the company said in a statement. Key has one of the oldest track records in the fund of hedge funds industry while the SEB AIT brings competence within the seeding and incubation business.

The merged team will be headed by Mikael Spångberg who will act as the managing director in Stockholm while Chris Rule will act as the deputy and chief investment officer in London.

Spångber and Rule have collaborated informally for the past few years and SEB is optimistic that the synergy between the two investment teams would bring different specialities to the new venture.

The merging of the two units also coincided with the decision of Chris Jones to leave Key after seven years.

Background Other major announcement for SEB early this year was the launch of its Asian real estate UCITS-compliant fund, which was aimed at giving international and high net worth investors to tap the growing regional market.

In December last year, rating agency Standard & Poor's ......................

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