DENMARK - Glitnir Total Capital in Copenhagen closes down

Nordic unquote” reported in April that Glitnir’s Copenhagen office would close down, while its integrated finance division was expected to remain open for business, forming a separate unit operating from the city. In the longer term is was anticipated that Total Capital would spin-out from its parent and invite investors to back the business in a more traditional limited partnership model. The integrated finance division of the Bank will continue to operate from its London office.

The closing down of the Copenhagen office is disappointing for its team since the division has delivered strong results of late. In April, Total Capital divested its stake in Rahbek Fisk for between DKK 200-300m, with returns on the investment described as strong, and its pipeline was also said to be healthy.

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