HedgeCo.Net- In a strategic step to continue to grow in the alternative investments, SEB has reached an agreement to acquire 100% of the shares in London based KAM Group Limited (“Key AssetManagement.
 
Key Asset Management is a leading European fund of hedge funds manager with approximately SEK 20 billion ($3.1 billion) of assets under management. Key Asset Management has one of the longest trackrecords in the industry and its flagship Key Hedge Fund has generated positive returns for 17 consecutive years. Since 2003, SEB enjoys good commercial relations with Key Asset Management. Thisacquisition will take SEB’s asset under management in hedge funds to approximately SEK 40 billion ($6.2 billion).
 
CEO of Key Asset Management, Simon Ewart said “The acquisition will bring benefits to all existing and prospective clients of both Key Asset Management and SEB and I am pleased that our existingrelationship will be deepened in this way. Key Asset Management’s offering will be further strengthened by having SEB as its owner.”
 
SEB is a North European financial group serving some 400,000 corporate customers and institutions and five million private individuals. SEB has a local presence in the Nordic and Baltic countries,Germany, Ukraine and Russia, and a global presence through its international network in another ten countries.