Hedge Fund Brummer & Partners Expands Its Top Management

(Bloomberg) -- Swedish Hedge fund manager Brummer & Partners AB, with more than $12 billion of assets under management, is adding four new partners to its team.

The new partners at the Stockholm-based asset manager, which was founded 25 years ago, are Jonas Borjesson, Carl-Johan Brodowsky, Markus Wiklund and Henrik Paulsson. Two current partners, Kent Janer and Per Josefsson, are stepping down as partners, the company said in a statement. Brummer & Partners will have 10 partners after the changes.

Borjesson has been the head of investor relations since 2012 and will share that responsibility globally with Brodowsky, who’s returning to the firm after four years at Keel Capital. Wiklund, the deputy chief executive officer of Brummer Multi-Strategy, has been with the firm in various positions since 1997, including being responsible for risk analysis and portfolio construction. Paulsson joined the asset manager from Nasdaq OMX in 2010 and is currently the CEO of B & P Fund Services.

“Over the last six months we have noticed a change in behavior and interest among the most initiated and sophisticated investors,” Borjesson said in an email. “Many of these Tier 1 investors are now looking to add liquid uncorrelated investments, and this makes perfect sense given where we are in the cycle.”

Brummer Multi-Strategy, the firm’s flagship fund, returned 1.9% in the first four months of 2021, after gaining 12.5% last year.

Janer and Josefsson are leaving their positions as partners because they are no longer as active in the firm’s core business and “the shift is a natural one,” Patrik Brummer, chairman and founder of the asset manager, said in the statement.

“Another important focus area is responsible investments, without which asset managers will struggle to remain relevant and competitive,” Borjesson said. “All of these factors are obviously good news for us at Brummer & Partners, as we manage a liquid multi-strategy fund.”

©2021 Bloomberg L.P.