BLS Capital takes 6.7% position in Danish affiliate to put asset management firm behind co-founders in terms of total stake in business
Danish investment firm BLS Capital has become the largest external shareholder in Better Collective after snapping up almost 7% of the affiliate giant’s stock.
Better Collective confirmed yesterday, 1 February, that the Copenhagen-based fund had acquire 6.7% of the total voting rights in the business.
That shareholding for BLS corresponds to a total of 3,651,643 voting rights.
BLS now only sits behind co-founders Jesper Søgaard and Christian Kirk Rasmussen as the largest shareholder in the Stockholm-listed company.
BLS’ existing investment portfolio is split into international and Danish companies, and according to AUM 13F, has total assets under management of $7.6bn.
International companies in the group’s portfolio include Starbucks, Microsoft and Guinness owner Diageo.
In terms of Danish businesses alongside Better Collective, BLS has invested in Carlsberg and property firm Jeudan.
Mikkel Munch-Jacobsgaard said: “I am very excited to be welcoming BLS Capital with Anders Lund, Peter Bundgaard, Thomas Winther Sørensen and their team as a +5% shareholder in Better Collective.
“BLS is now our largest single shareholder outside of our founders in Christian Kirk Rasmussen and Jesper Søgaard, as they own 6.7% of the company.
“We are very happy to have you onboard with us on our journey to become the leading digital sports media group,” he added.
Better Collective’s stock has outpaced most of the industry over the course of the past 12 months, climbing 76% to SEK295 (£22.32), at the time of writing.
Elsewhere, Better Collective has named former Oddschecker Global Media exec Guy Harding as a senior director.
Harding will lead on the group’s media partnerships growth strategy and report to SVP for group media and core sites Simon Hovmand-Stilling.