DARAG has formed a strategic partnership with London-based investment management company New Nordic Advisors.
The leading European legacy acquirer will collaborate with New Nordic in multiple project areas, including the provision of legacy, active business and restructuring solutions.
DARAG’s Malta-domiciled protected cell company will form the joint consolidation platform.
A new cell jointly owned by DARAG and New Nordic will be established, subject to regulatory approval.
New Nordic Capital, the asset management arm of the New Nordic group, will provide asset management capability, while DARAG will contribute its legacy management expertise.
Nicolai Borcher Hansen, New Nordic CEO, commented: “This partnership signals the strong cooperation between our teams and opens the opportunity to explore further projects in a collaborative manner.”
“New Nordic is evolving its strategy to provide alternative investment strategies with a focus on Northern Europe and Scandinavia.”
Executive chairman of DARAG, Stuart Davies, said that the partnership was a milestone for the group and showcased their commitment to growth and a creative approach to future partnerships and projects.
He added: “The partnership with New Nordic will also strengthen our bespoke client offering, which we tailor according to need, regardless of complexity or size.”
Alex Roth, DARAG’s head of M&A, said: “This partnership is the result of an established close collaboration between our teams, common values and a shared commitment to provide solutions designed with a relentless focus on each individual client’s needs.”
“Our joint cell in Malta will deliver both unrivaled legacy expertise and excellent asset management. Together, DARAG and New Nordic will provide a truly exceptional client offering.”