FAM AB

Last updated

Foundation Asset Management AB (FAM AB) is a Swedish asset management company, founded by the three largest Wallenberg foundations in order to manage their assets, by means of direct ownership as well as through management and consultancy agreements. It is chaired by Marcus Wallenberg who also chairs Wallenberg Investments AB, which is the holding company that directly owns FAM AB. [1]

Contents

These foundations and their donations are administered and handled through a subsidiary. The Wallenberg Foundations refers to 16 non-profit foundations founded by members of the Wallenberg family which makeup what is described in Sweden as the Wallenberg ecosystem. [2]

Ownership and structure

FAM AB is owned by Wallenberg Investments AB, a company that is fully owned by the three largest Wallenberg foundations consisting of the following: [3]

The Wallenberg Foundations benefit from all dividends earned by Wallenberg Investments AB, of which 80% is then funneled in grants by the foundations and 20% is reinvested via Wallenberg Investments AB. [3]

The Wallenbergs, through FAM AB, were major shareholders of Swedish flag carrier SAS since 1946, controlling a stake of 7.5% of the company. [4] Their stake in the company ended as part of the airline's restructuring after the COVID-19. [5]

Largest holdings as of 31 December 2023

Sources: [6] [7]

Full list of holdings.

Related Research Articles

<span class="mw-page-title-main">Scandinavian Airlines</span> Flag carrier of Denmark, Norway, and Sweden

Scandinavian Airlines is the flag carrier airline of Denmark, Norway, and Sweden. Short for Scandinavian Airlines System and legally referred to as Scandinavian Airlines System Denmark-Norway-Sweden, SAS is part of SAS Group and is headquartered in Solna, Sweden.

<span class="mw-page-title-main">SEB Group</span> Swedish financial group for corporate customers

Skandinaviska Enskilda Banken AB, abbreviated SEB, is a Swedish bank headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, Germany, and the United Kingdom, the bank's operations are focused on corporate and investment banking services to corporate and institutional clients. The bank was founded in 1972 by the Swedish Wallenberg family, which is still SEB's largest shareholder through major investment company Investor AB. SEB is the largest Swedish bank by both market capitalisation and total assets.

The Wallenberg family is a prominent Swedish family renowned as bankers, industrialists, politicians, bureaucrats and diplomats, present in most large Swedish industrial groups, like EQT AB, Ericsson, Electrolux, ABB, SAS Group, SKF, AIK, Atlas Copco, Saab AB, and more. In the 1970s, the Wallenberg family businesses employed 40% of Sweden's industrial workforce and represented 40% of the total worth of the Stockholm stock market.

<span class="mw-page-title-main">SAS Group</span> Airline holding company based in Sweden

SAS AB, trading as SAS Group, is a Swedish airline holding company headquartered in Solna Municipality, Sweden. It is the owner of the airlines Scandinavian Airlines, SAS Link, and SAS Connect.

<span class="mw-page-title-main">Kinnevik AB</span> Swedish investment company

Kinnevik AB is a Swedish investment company that was founded in 1936 by the Stenbeck, Klingspor and von Horn families.

Hexagon AB is a multinational industrial technology company. Headquartered in Stockholm, Sweden and publicly traded on the Nasdaq Stockholm exchange, the company since 2000 has had a particular focus on measuring technology and geospatial tools and software. After its founding, between 2000 and 2022, Hexagon completed more than 170 acquisitions, and it is the parent company of Leica Geosystems and Infor EAM, among other subsidiaries. With around 24,000 employees, Hexagon's revenue in 2023 was US$5.5 billion, while assets were $18.1 billion.

<span class="mw-page-title-main">Carnegie Investment Bank</span> Swedish investment bank

Carnegie Investment Bank AB is a Swedish financial services group with activities in securities brokerage, investment banking and private banking.

<span class="mw-page-title-main">Knut and Alice Wallenberg Foundation</span> Swedish research foundation

Knut and Alice Wallenberg Foundation (KAW) is a Swedish public and private foundation formed in 1917 by Knut Agathon Wallenberg and his wife Alice Wallenberg. It was created to support research in the natural sciences, technology and medicine by awarding long-term grants to basic research of the highest international class.

Höganäs AB is a Swedish company which is the world's largest producer of powdered metals. Based in Höganäs, it develops and markets powders for customers in metallurgical industries.

<span class="mw-page-title-main">Perella Weinberg Partners</span> U.S.-based financial services firm

Perella Weinberg Partners is an American global financial services firm focused on investment banking advisory services.

<span class="mw-page-title-main">Jacob Wallenberg</span> Swedish banker and industrialist (born 1956)

Jacob Wallenberg is a Swedish banker and industrialist from the Wallenberg family who currently serves as a board member for multiple companies. He was described by The Guardian as a “prince in Sweden's royal family of finance”.

L E Lundbergföretagen AB is an investment company controlled by the Swedish businessman Fredrik Lundberg and family.

<span class="mw-page-title-main">History of Scandinavian Airlines System (1933–1952)</span>

The history of Scandinavian Airlines System (SAS) from 1933 to 1951 covers the first attempts at transatlantic travel, the establishment of a consortium and finally the establishment of the consolidated SAS. Aerotransport, the national airline of Sweden, and Det Norske Luftfartselskap (DNL), the national airline of Norway, both started planning transatlantic routes in the mid-1930s. By 1939, negotiations were started with Det Danske Luftfartselskab (DDL) of Denmark, and by 1940 services were to begin. Because of the German occupation of Denmark and Norway, the plans collapsed. In Sweden, Svensk Interkontinental Lufttrafik (SILA) was founded to start private transatlantic flights, which commenced in 1945. Negotiations were started again, and in 1946 the consortium Overseas Scandinavian Airlines System (OSAS) was established to start routes to New York and South America.

Braganza AB is a Swedish privately held holding company owned by Norwegian investor Per G. Braathen. The company has roots in Norway, where it was involved in shipping and aviation. Over the years, Braganza has focused primarily on the transport and tourism sectors. As of 2023, Braganza AB reported a revenue of 9.3 billion SEK and employed approximately 1,200 people.

<span class="mw-page-title-main">Peter Wallenberg Jr.</span>

Peter “Poker” Åke Wallenberg is a Swedish businessman, chair of eight of the sixteen public and private foundations formed by the Wallenberg family or established in memory of family members. The foundations, which are known collectively as the Wallenberg Foundations, annually award funding of approximately SEK 2.2 billion, largely for research and education at Swedish universities.

BRA Sverige AB, trading as Braathens Regional Airlines, often shortended to BRA(Swedish for "Good"), is a Swedish virtual airline headquartered in Stockholm, Sweden, with its main operational base at Stockholm Bromma Airport.

Traton SE, known as the Traton Group, is a subsidiary of the Volkswagen Group and one of the world's largest commercial vehicle manufacturers, with its MAN, Scania, Navistar, IC Bus, Volkswagen Truck & Bus and Neoplan brands. The company also has digital services branded as RIO. In 2023, the group sold 338,183 vehicles. The range of products includes light-, medium-, and heavy-duty trucks, as well as vans and buses. As of December 31, 2023, Traton employed around 100,000 people in its commercial vehicle brands.

The Wallenberg Foundations refers collectively to the 16 public and private foundations formed on the basis of donations from members of the Swedish Wallenberg family, or created with funds raised in honor of Wallenberg family members.

Marcus and Amalia Wallenberg Foundation was formed with a donation from the banker Jacob Wallenberg in 1960. The original donation was SEK 442,000.

Roger Akelius is a Swedish business magnate. He is the founder of Akelius Residential Property AB, one of Europe's largest real estate companies.

References

  1. "The investor who believes in giving back to his homeland". I by IMD. International Institute for Management Development. 2023-01-03.
  2. "Our owners | Navigare Ventures". navigareventures.com. Retrieved 2024-07-06.
  3. 1 2 Wallenberg, Peter (2023-09-22). "Wallenberg Ecosystem" (PDF). European Corporate Governance Institute.
  4. Rasmussen, Louise (4 October 2023). "SAS stock dives 95% as restructuring announced". Reuters.
  5. Rasmussen, Louise (4 October 2023). "SAS stock dives 95% as restructuring announced". Reuters.
  6. "2023 FAM AB Annual Report" (PDF). Retrieved 2015-04-05.
  7. "Our holdings | FAM". fam.se. Retrieved 2024-06-25.