Sampo, the Finnish pension and life insurer, is taking a majority stake in a new hedge fund management group created by the merger of 3C Fund Mangement hedge fund businesses and Sampo-owned Mandatum.

The merger is intended to create a leading large Nordic hedge fund, the firms said in a statement. The combined units, to be named 3C Asset Management, will have €300m (€271.8m) in assets under management and will be one of the largest hedge funds in the region.