Pemberton Asset Management acquires Nordstern from ActivumSG

Pemberton Asset Management has acquired the Danish construction and urban development group Nordstern from ActivumSG. Pemberton, which has previously served as a financial partner and lender to the company, will now assume full ownership.

The transition follows a turbulent period for Nordstern, during which its holding company reported write-downs of 1.6 billion DKK, resulting in negative equity exceeding 1 billion DKK. Despite these challenges and a difficult market characterized by high interest rates and inflation, Nordstern management describes the business as robust with growing revenue and a strong liquidity position.

Nordstern CEO Morten Chrone stated that the change in ownership will not affect customers or partners. The new structure is intended to strengthen the company’s focus on its core business, improve profitability through tighter cost management, and provide a foundation for future growth.