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Family offices thrive in the Nordic Region – Here are 80 of the top ones

The big four economies of the Nordic region have one of the most thriving family investment offices ecosystems in the world. Whether wealth has been created from old-economy businesses like shipping, oil, tobacco, forestry, and traditional retail, or 21st tech, the region is home to a plethora of investment offices owned by very wealthy families and entrepreneurs. 

Most of these family offices are located in the big capital cities of these countries, particularly Helsinki, Oslo, and Stockholm. But not so in Denmark, where there is much more of geographical diversity, with only three of the 16 Danish family offices on the list located in Copenhagen.

Despite Norway being the least populated out of the four, with an estimated population of 5.3 million, the country has the most number of family offices on the list, with a total of 22. The country does have one of the highest per capita incomes in the world, which might partly explain why there are so many family investment groups in Norway. Sweden and Finland each have 21 family investment groups on the list. 

Family Capital was unable to track down any family-owned investment groups in Iceland. This might be partly to do with the very negative effect the fallout from the financial crisis of 2008 had on the economy. Many of Iceland’s wealthiest individuals at the time were hugely tied up with assets connected to the financial sector and they paid a heavy price from the crisis and have yet to recover fully.  

A number of the region’s wealthiest individuals and families have set up family offices outside of the countries of origin, usually either the UK or Switzerland. These include the Rausing, Smedvig, and Kamprad families.

It’s also important to point out that some of the region’s wealthiest families have diversified their holdings into listed investment groups. This is particularly the case in Sweden, where Investor (Wallenberg), Investment AB Oresund (Oviberg and Hagstromer), Investment AB Latour (Douglas), and Kinnevik (Stenbeck, Klingspor and von Horn) are all listed, family-owned investment groups. 

The list is displayed alphabetically 

wdt_ID Family/Investment Office Family/Entrepreneur Based Country
1 Aars Møller Oslo Norway
2 Adolfsen Group Kristian and Roger Adolfsen Oslo Norway
3 Aivi Invest Lars-Olof Staffans Helsinki Finland
4 Allba Holding Jensen Stockholm Sweden
5 AltoCumulus Axel Johnson Stockholm Sweden
6 Andenaes Group Andenaes Oslo Norway
7 Antti Ahlström Perilliset Ahlström Helsinki Finland
8 Awilhelmsen Capital Wilhelmsen Oslo Norway
9 Back in Black Capital Lundin Stockholm Sweden
10 Backstage Invest Tilander Gothenburg Sweden
Family/Investment Office Family/Entrepreneur Based Country

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