DARAG announces formation of strategic partnership with New Nordic Advisors
March 26, 2018 – DARAG, a leading European legacy acquirer, and New Nordic Advisors (“New Nordic”), a London-based investment management company, today announced the formation of a strategic partnership. DARAG and New Nordic will join forces in a number of project areas, including the provision of legacy, active business and restructuring solutions.
DARAG’s Protected Cell Company in Malta will form the joint consolidation platform. Following this agreement, a new cell will be established, subject to regulatory approval, which will be jointly owned by DARAG and New Nordic. DARAG will contribute its legacy management expertise and New Nordic Capital will provide asset management capability. The first joint initiatives are expected to conclude imminently.
New Nordic Capital is the asset management arm of the New Nordic group, specialising in Solvency II optimised investment strategies.
New Nordic CEO, Nicolai Borcher Hansen, said: “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.”
Stuart Davies, Executive Chairman of DARAG, said: “This strategic partnership is a milestone for our Group and further showcases our commitment to both consistent growth in our core markets and a creative and open approach to future partnerships and projects. The partnership with New Nordic will also strengthen our bespoke client offering, which we tailor according to need, regardless of complexity or size. Clients today require holistic and compact solutions and we are committed to providing just that.”
Alex Roth, Head of M&A at DARAG 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 unrivalled legacy expertise and excellent asset management. Together, DARAG and New Nordic will provide a truly exceptional client offering.”