Financial services group Ocorian has acquired Nordic Trustee, which provides trustee and agency services for bonds and direct lending in the Nordic region, from Altor Fund IV.
The transaction, subject to regulatory approval, reflects Ocorian’s strategy to build its capital markets offering.
Since it was founded in 1993, Nordic Trustee has played a key role in developing the Nordic bond market, giving issuers access to capital, as well as monitoring and securing bondholders’ rights.
The firm has supported borrowers and lenders in the market with advice through more than 400 bond restructurings and 2,000 bondholders’ meetings.
Nordic Trustee is also the largest independent loan agent in the Nordic private credit market and supports stakeholders in the bond and private loan markets with digital solutions.
The company has more than 3,000 running assignments in the non-bank lending sector for 850 issuers and borrowers from 30 countries.
It also provides bond reference data, pricing information and indexes to institutional investors through its proprietary platforms Stamdata, Nordic Bond Pricing and eFIRDS.
With offices in Oslo, Stockholm, Copenhagen and Helsinki, Nordic Trustee is led by CEO Cato Holmsen. The team will continue to run Nordic Trustee’s business as an independent bond trustee and loan agent in the Nordics.
Frederik van Tuyll (pictured), Chairman and CEO at Ocorian, said: “This acquisition allows Ocorian's clients to tap into the fast-growing Nordic bond and direct lending markets. It also significantly expands the breadth and depth of solutions that Nordic Trustee can offer their clients.”
Ocorian, which is backed by Inflexion Private Equity, was advised by Thommessen, White & Case, PwC, DNB and Oliver Wyman. Altor Fund was advised by Arctic Securities, PwC and Wikborg Rein.