Focused. Active. Independent.

For Professional Investors only


About us

CARN Capital is an independent investment organization located in Oslo. The firm has a long-short strategy investing in European equities, with focus on the Nordics.

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Business principles

  • Independent

  • Focused

  • Long-term

  • Aligned interests

  • Transparency

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Investment philosophy & strategy

  • True active management

  • Under-researched companies

  • Quality companies

  • Value investing and fundamental research

  • Ethical guidelines

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The team

  • Andreas Bomann-Larsen

    Portfolio Manager

    Andreas started his career as equity analyst in First Securities where he worked in the period 2003 to 2007. From 2007 until 2013 Andreas worked on the investment team in the asset management firm Formuesforvaltning. He was member of the firm’s 5-person investment committee who was responsible for the firm’s investment portfolio of NOK 45 billion (USD 6 billion). During his time in Formuesforvaltning Andreas was responsible for the Nordic equity portfolios, the global equity portfolios, and the hedge fund portfolios. In June, 2013 he founded what is today CARN Capital.

    Andreas has a Master of Science Degree in Business Administration from the Norwegian School of Economics. He is also an Authorized Portfolio Manager and has completed studies in Advanced Valuation from The Norwegian Society of Financial Analysts and Norwegian School of Economics.

  • Christer Bjørndal

    Portfolio Manager

    Christer has been working in Norges Bank Investment Management (NBIM), the Norwegian Sovereign Wealth Fund, for nine years before co-founding CARN Capital.. He has experience from operations, risk, and analysis and portfolio management. He started as Analyst in Fixed Income in New York, and then moved on to become Regional Operations Manager in Asia. For the significant part he has been an Analyst and the latest years he has been a Portfolio Manager responsible for an equity portfolio of NOK 50 billion (USD 7 billion).

    Christer has both a Master of Science and MBA degree from the Norwegian School of Economics within Finance. He is also a Norwegian and European Certified Financial Analyst and Authorized Portfolio Manager from The Norwegian Society of Financial Analysts and Norwegian School of Economics.

  • Harald Havnen

    Senior Analyst

    Harald started his career at J. P. Morgan’s Investment Banking division in 2004 specializing in M&A. In 2007, he returned to Norway and joined Orkla ASA’s investment management division with AuM of USD 3.5 billion. In 2012, Harald was a founding partner of Solsten AS, an independent and actively managed investment firm with a Norwegian and Nordic fund. Solsten was later acquired by competitor Arctic Fund Management.

    Harald has a bachelor degree in Economics from the University of Pennsylvania (USA), in addition to attending Chinese language and culture studies at Fudan University in Shanghai (China).

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