Iceland’s GAMMA Capital Management has received approval from the Financial Conduct Authority (FCA) to carry out investment business in the UK.
This is for the first time that the FCA granted an operating license to an Icelandic company since the financial crisis began in 2008.
GAMMA Capital Management Limited is the UK arm of GAMMA. It will focus on providing access to Icelandic investment opportunities for international investors across a number of asset classes including credit, equities and infrastructure.
GAMMA, which is based in Mayfair, London, has long targeted expanding its business into the UK.
GAMMA CEO Gisli Hauksson commented: “We are very excited to announce GAMMA Capital Management Limited‘s FCA authorisation, and this is a highly important milestone for us.
“We commenced operations in the UK in 2015 and have demonstrated our committment to the UK via FCA authorisation, the first Icelandic investment business to have a UK entity so authorised in almost a decade.
“Iceland is coming in from the cold and we believe that the strong economic outlook in Iceland creates exciting opportunities for foreign investors.”
Established in 2008, GAMMA's investment management operations have approximately £600m of assets under management in Iceland on behalf of pension funds, insurance companies, financial institutions, companies and individuals.
In Iceland, GAMMA manages equity, fixed income, private equity and real estate funds, including Iceland's largest real estate funds.