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Alternative Market Briefing

East Capital acquires Swedish fund management firm Monyx from NewCap Holding

Friday, December 14, 2018

Laxman Pai, Opalesque Asia:

The specialist in emerging and frontier market, East Capital Holding has acquired Swedish fund management company Monyx, consisting of Monyx Asset Management and Nordic Fund Services S.A. from its owner NewCap Holding A/S.

Monyx manages more than EUR3bn ($3.39bn) in Nordic and global equity and fixed income funds. Monyx will remain as a separate entity within the group. P> According to a press release from East Capital, which currently runs $2.59bn in assets, once the transaction is completed Monyx will become a fully-owned subsidiary of East Capital Group. Monyx will continue to operate as a separate entity focusing on Nordic and Global strategies and East Capital Asset Management will retain its focus on emerging and frontier markets.

East Capital and NewCap cite a strong industrial logic as the driving force behind the transaction. There are significant economies of scale to be achieved in support functions and in the procurement of administrative and other external services linked to portfolio management, said the release.

Reducing administration costs will provide vital additional resources to East Capital's continued sustainability efforts and enable further investments in management teams and other core capabilities across both businesses. East Capital and Monyx also have offices and operations in Sweden and Luxembourg, further supporting seamless coordination between the two entities.

"We are pleased to be the new owner of......................

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