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Borea Asset Management
Borea Asset Management, led by Gisli Hauksson, runs equity, fixed-income, and real estate funds for Icelandic institutional investors from Reykjavik.
Borea Asset Management
Borea Asset Management is an independent asset management company founded in 2005 in Bergen, Norway. It manages equity and bond funds, including high-yield bonds and hybrid capital, with a focus on long-term returns, risk management, and transparency. The company is owned by Sparebanken Vest, which acquired a majority stake in June 2024.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
Europe
Country
Iceland
City
Reykjavik
Corporate office
Reykjavik, Iceland
Principals
Gisli Hauksson
Chairman
Sector focus
Frequently asked questions
Who chairs Borea Asset Management?
Gisli Hauksson serves as the firm's Chairman. He has been a consistent figure in Icelandic financial services and is associated with Borea's growth as a domestic fund manager post-2008. His leadership spans the firm's liquid fund operations and its real estate development arm.
What is Borea's primary client base?
Icelandic pension funds are the firm's primary institutional clients. Iceland operates a mandatory occupational pension system, and Borea has structured its equity, fixed-income, and real estate funds to serve the asset-allocation needs of these pension pools. The firm's product design — particularly inflation-linked bond funds and direct property vehicles — closely mirrors the liability profiles of Icelandic pension schemes.
How is Borea involved in Icelandic real estate?
Borea directly acquires and develops commercial real estate, primarily in the Reykjavik capital region, and offers this exposure through real estate investment funds. Confirmed projects include the Kringlan 7 commercial building and the Smáratorg 3 office development in Kópavogur. This in-house development capability, combined with UCITS fund management, is unusual among Nordic peers.
What investment strategies does Borea offer?
Borea manages equity funds concentrated on Icelandic listed companies, fixed-income funds covering both nominal and inflation-linked government bonds, and direct real estate funds focused on commercial property development and acquisition. The equity portfolios operate within Iceland's small and concentrated public market, while bond strategies are tailored to domestic institutional preferences for inflation protection.
Does Borea manage UCITS funds?
Yes, Borea manages UCITS-compliant equity and fixed-income funds. The UCITS wrapper is a standard structure for European fund managers and allows Borea's pension fund clients to invest through a regulated, transparent vehicle. The firm's UCITS funds invest predominantly in Icelandic securities.
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