DENMARK - Steen Svendsen has retired as managing director of Schroders Investment Management Denmark to take a role at a private equity group.
He left the Schroders office in Copenhagen after 16 years, handing his position over to Ketil Pederson, former assistant general manager, in July.
He is joining London-listed private equity group SVG Capital as a consultant.
"Many institutional investors are looking for new ways to get exposure to fixed-income and international credit markets," said Pederson. He also sees Schroders taking a stronger position in emerging market equities over the next two
It will launch its fourth Private Equity Fund of Funds next year. Its predecessor was closed in April at €422m, exceeding its target of €300m.
According to Pederson this product is particularly interesting for investors from the Nordic region with one third of investments in the Private Equity Fund of Funds III coming from Norway, Denmark and Iceland.
Schroders is advised on its private equity funds by SVG Advisors, a subsidiary of SVG Capital.
Schroders was among the first foreign asset managers to open an office in Denmark in 1989. Since then, the company acquired several major pension funds as clients and currently holds €5.4bn assets under management for the Nordic region.