FSN Capital appoints new co-managing partners

The appointments mark the first leadership transition since FSN was founded in 1999. Founder and current managing partner Frode Strand-Nielsen will start a new role as chair of the firm. He will replace Knut N Kjær, who will continue as chair of the investment committee for FSN's Fund VI.

Rounding out the new leadership team, Morten Welo will continue in his role as chief operating officer.

FSN was established in 1999 by Frode Strand-Nielsen, together with Cato A Holmsen, who retired in 2010. Initially based in Oslo, the firm expanded with offices in Stockholm in 2006, Copenhagen in 2010 and Munich in 2017. FSN currently has 70 employees and EUR 3.5bn in assets under management. Earlier this year, the firm closed its latest fund on EUR 1.8bn.

Smith joined FSN in 2005 as an associate and is currently a partner in the Oslo office. Muerer joined FSN in 2018 as a partner in the Munich office and head of DACH. He previously worked at Apax Partners for more than 10 years.

Smith will take responsibility for overseeing the performance of portfolio companies, while Muerer will be responsible for the firm's investment processes. Welo will continue to be responsible for the operations of the firm in his role as COO.

In his new role as chair of FSN Capital, Strand-Nielsen will continue to be involved in the investment committee and the development of portfolio companies.

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