Market risk in portfolio valuations
Equity and private-market values fluctuate with market sentiment and fundamentals
- Scope
- Listed and unlisted holdings
- Materiality
- high
Creades
Creades AB is a Swedish investment company based in Stockholm that owns and manages a portfolio of listed and unlisted holdings. It acts as a long-term engaged owner, mainly in smaller and mid-sized Nordic companies, and also actively manages selected listed investments.
| % | |
|---|---|
| Private and public equity investments | 70% Direct investments in smaller and mid-sized listed and unlisted companies. |
| Listed portfolio management | 20% Active management of quoted holdings with long-term upside potential. |
| Investment income and exits | 10% Returns from dividends, distributions, and realized gains on investments. |
Creades does not sell products to end consumers; its capital is deployed into portfolio companies and its economic...
- Private company owners and foundersprimary
They sell minority or majority stakes to Creades for capital and an active long-term owner
- Listed company shareholdersprimary
They partner with Creades in quoted holdings where it seeks long-term revaluation
- Management teams and boardssecondary
They work with Creades on growth, efficiency, and strategic development
- Creades public shareholdersprimary
They buy Creades shares to gain exposure to the investment portfolio
Creades is headquartered in Stockholm and its investment focus is primarily Sweden and the wider Nordic region...
- •Headquartered in Stockholm, Sweden
- •Primary focus on Swedish and Nordic companies
- •Invests in both listed and unlisted Nordic holdings
- •Portfolio companies may have broader international sales
- •Geography matters because returns depend on Nordic market access
Creades seeks opportunistic investments where it can act as an engaged owner and help build long-term value...
01
Active ownership in portfolio companiesmedium-term
Influence can improve strategy, operations, and capital allocation
02
Nordic small and mid-cap focuslong-term
The mandate targets companies where engaged ownership can matter most
03
Value creation through revaluation and growthmedium-term
Returns depend on both multiple expansion and business improvement
Creades is exposed to market risk because the value of its portfolio can move with equity prices and valuation...
Concentration risk
A few large holdings can dominate net asset value and returns
- Scope
- Portfolio construction
- Materiality
- high
Valuation and liquidity risk in unlisted assets
Fair values rely on estimates and exits may take time
- Scope
- Private investments
- Materiality
- high
Currency risk
Underlying portfolio companies may have foreign-currency exposure
- Scope
- Indirect through holdings
- Materiality
- medium
Fair value measurement of portfolio investments
Can create large unrealized gains or losses
IFRS 10
IFRS 10 investment company exemption
Results reflect investment returns rather than line-by-line operating revenue
IFRS 9
IFRS 9 financial instruments
Valuation assumptions can materially affect NAV and profit
: 11/08/2026