Press releaseSöderberg & Partners raises new capital to support further international expansion
Söderberg & Partners has agreed to close a new share issue, raising approximately 200 million EUR (2,3 billion SEK). The new growth investment is being provided by KKR, an existing minority investor since 2019. Following the new share issue, Söderberg & Partners will continue to be controlled by its founders and supported by its two significant minority shareholders, global investment firm KKR and private equity firm TA Associates. Söderberg & Partners will use this capital injection to facilitate and support ongoing expansion, particularly across its newest markets; the UK and Spain.
Nick Raine, CEO of Soderberg & Partners UK business said: “This fundraise represents Söderberg’s significant commitment to future growth here in the UK. Since our launch earlier this year, we have received a phenomenal response from adviser firms who are keen to find out more about what our proposition can offer. With technology in our market advancing rapidly, we are excited to be operating in such a dynamic space. We anticipate our UK partner firms will benefit from our unique blend of extensive UK platform expertise, coupled with Swedish culture and systems, as we continue to grow.”
Gustaf Rentzhog, CEO and co-founder of Söderberg & Partners said: “We have just established Söderberg & Partners in the UK, a 10 trillion GBP wealth management market. This is an exciting time to be in the UK where quality standards and customer outcomes in the financial services space have never been higher. We are confident, that with our technology and our partnership model, we are bringing a competitive offer that will fill a gap in the current market and help improve both efficiency and quality for the advisers that chooses to partner with us. As our journey continues, we anticipate becoming one of the leading players in and become one of the leading players in this market within the coming years.”
Hans Arstad, Managing Director leading KKR’s European private equity activities across the Nordic region, said: “Söderberg & Partners has more than doubled in size since our initial investment in 2019 and we are pleased to make a significant new investment behind this exceptional team and platform. We believe there is enormous potential for Söderberg & Partners to accelerate its growth in UK, Spain and the rest of Europe by continuing to invest in building its differentiated suite of technology-enabled services and pursuing strategic M&A with leading players in key growth markets.
KKR is making the additional investment primarily through its European Fund V. The firm has an established track record in the Nordic region, having invested over 6 billion EUR in equity since 2007 and strengthening its presence and growth ambitions in the region with the opening of a new office in Stockholm, Sweden in June 2021. “
