Since June 2007, with the launch of Boreas Capital in Reykjavik, Iceland can now claim to be an integral part of the Scandinavian hedge fund universe. And, as an indication of the local enthusiasm that the fund has generated, the partners raised initial capital of €125 million ($173 million), well above their target of €100 million ($138 million).
Boreas Capital was founded by three partners who are also acting as the fund’s portfolio managers. Ragnar Thorisson and Tomas Gestsson had previously worked at Burdaras, an Icelandic investment company. In addition, Thorisson was also involved in the Swedish market with the Icelandic venture capital firm,...