"Our clients in both the Nordics and internationally have over time requested debt advisory from Pangea, especially in connection with transactions. This expansion is part of our strategy to become an even more complete provider of transaction and financing advice in the Nordic region. It is natural for us to start with a team in Norway that will probably be expanded with a similar team in Stockholm in the long run," says Bård Bjølgerud, CEO and Partner at Pangea Property Partners.
Terje A. Pettersen comes from the position as Head of Corporate Loan Origination & Co-Head of Debt Capital Markets at SEB, where he has been for the past 10 years. He becomes Managing Director & Partner at Pangea Debt Advisory. Pettersen has broad management experience and has, among other things, been part of the management team for SEB Norway and for the Investment Banking unit. He has previously been Head of Debt Capital & Partner at ABG Sundal Collier for four years and worked 12 years at DNB, holding several positions including Head of Commercial Real Estate.
John Stene comes from the position as Vice President, Corporate & Institutional Advisory at Swedbank, where he has worked for more than 11 years. He becomes Director & Partner at Pangea Debt Advisory. For the past 10 years he has worked in Investment Banking and Debt Capital Markets. He has also worked a year at Swedbank's headquarter in Stockholm, where he contributed to rebuild Swedbank's DCM High Yield origination team, with a special focus on real estate transactions.
"The Nordic commercial real estate market has a transaction volume of more than NOK 400 billion a year, and a significant part of this is financed by debt capital. The financing market for real estate and debt advisory is also a significantly growing segment in both the Nordics and internationally. Pangea has therefore recruited two of the absolute best at this area in Norway," says Bjølgerud.
"Both Terje and John have strong track records and a competence and profile that makes them a very good fit for Pangea. In addition, both have extensive experience from Swedish banks and the Swedish market, which makes them particularly interesting for Pangea's Nordic strategy," he adds.