Houlihan Lokey Advises Formuesforvaltning

Houlihan Lokey is pleased to announce the partnership investment into Formuesforvaltning (Formue) from IK Investment Partners (IK) and funds managed by Intermediate Capital Group (ICG). The transaction closed on 19 July, 2021.

Formue is a leading Nordic independent wealth manager serving private individuals, institutions, and organisations in Norway and Sweden with NOK 100 billion under management. From its 21 offices across Norway, Sweden, and the United Kingdom, the company’s 300 employees provide a comprehensive range of services, including wealth planning, portfolio management, business management, family office support, and legal services.

Formue distinguishes itself from its peers by possessing a strong ancillary offering, which includes the provision of financial life advice through a cohesive, omnichannel customer engagement model.

Through the provision of a bespoke service to each of its HNW clients and significant investment in digital solutions, Formue has developed a reputation for excellence. The company has also developed its international expansion strategy and is currently present in both Sweden and the United Kingdom.

IK and ICG will be acquiring their stakes from several private investors and will invest alongside founder Ole Jacob Sunde and the management team. Completion of the transaction is subject to legal and regulatory approval.

Houlihan Lokey served as the sellside advisor to Formue. This most recent transaction further strengthens Houlihan Lokey’s leadership in the European wealth management sector, a core focus for the financial services team.