Former doyens of European funds of funds, Anders Åström and Tomas Otterud, are back in business with a new advisory firm, Custor Capital.
As revealed by PEREnews.com, the pair that founded Aberdeen Property Investors’ Indirect Investment Management last decade, recently set up Custor having formerly headed Credit Suisse’s global real estate customised fund investment group. Bo Ljunglöf, the third partner at Custor, also recently left the Credit Suisse team and was formerly at Aberdeen Indirect.
Speaking to PERE from their new base in Stockholm, Åström and Otterud said Custor was looking to build a team and was in discussions with potential partners in the US and Asia – markets they expect to cover.
Though the pair did not rule out raising a full-blown fund of funds in the future, in the short-term they believe giving “customised” advice to investors would be more fruitful on a separate account or club structure basis.
“We think there is potential to advise clients newly getting into the sector and those with existing portfolios looking to outsource,” they said, adding their small, confidential and conflict-free position was an advantage. A fourth member of Custor’s team, Edward Jögi, was also at Credit Suisse and Aberdeen’s indirect investment management business.