The business operations of fund services provider Askel Partners have been sold to Aktia Fund Management company.
Financial details were not disclosed.
Askel Partners develops Finnish infrastructure funds, and the acquisition gives Aktia the preconditions to establish one of its own.
The new offering will be set up towards the end of 2020 and focus on public and private energy, transport and communication infrastructure, and social infrastructure.
Going forward, Aktia’s institutional customers will have the opportunity to participate in financing and developing projects.
Askel Partners’ founders, Kimmo Lehto and Kalle Myllymäki, will join Aktia and strengthen the team responsible for real investments.
“Investments in real assets that generate steady cash flows will play an especially important role in the current interest rate environment”, says Niina Bergring, director, asset management at Aktia.
“Askel Partners has solid experience and a strong network, which supports Aktia’s growth within alternative investment products.”
Myllymäki and Lehto added: “Aktia’s asset management has an excellent reputation. We think it is great that we can participate in developing infrastructure investments that are meaningful for the society and give good return with a moderate risk profile to Aktia’s customers.”
As of 31 December 2019, Aktia had 750 members of staff across Finland and managed €9.9bn in assets.