Amplion Asset Management has decided to focus its operations on property funds and will primarily develop the company's fund management in Finland.
This will affect the company's current operations in Russia and Sweden.
In Finland, Amplion operates a successful property fund business within the value added/opportunistic investments market segment. The operations are conducted based on institutional capital in the form of investor clubs. Amplion's business will now be developed further based on the experience gained in Finland. Consequently, Amplion has decided to close its office in St. Petersburg.
Parallel with this step, Amplion's partner in St. Petersburg, Evli Bank, will take over management responsibility for the EPI Russia I fund. In Sweden, Amplion's current operations will be wound up through the three Swedish partners, Greger Hedlund, Örjan Johansson and Magnus Edlund, selling their interests in Amplion and continuing their operations in their joint company, PINE.
PINE has been engaged in asset and investment management operations for some time, with clients including Lönnbacken Fastigheter and Nordicom Sverige. PINE will continue to expand this business.
The departing CEO of Amplion Sweden, Greger Hedlund, says in a comment: "Now that Amplion has decided to change its focus, it is natural for us to continue with the operations we have previously conducted in PINE. Amplion has been interesting for us, but we believe that our continued operations can best be conducted in PINE."
Amplion Holding's CEO Timo Nurminen says in a comment: "Amplion enjoys a strong position in Finland as an asset and investment manager and has decided to strengthen its position as regards value added and opportunistic fund management and investment products.
"We will also focus on exclusive asset management engagements on behalf of individual clients in Finland and will continue to manage a Baltic fund. In addition, we also have operations in France."
Amplion offers tailored investment solutions to institutions and private investors on selected European markets. Amplion has assets of more than 450 million under management.
Amplion is a part of the Catella Group.