Bo Ennerberg, finance director of Länsförsäkringar (LF Insurance Group), a Swedish insurance and asset management group, is leaving the firm and setting up his own alternative investments firm, with LF as his first client.

LF is handing over the asset management of its hedge fund and private equity assets to Ennerberg's new company. The employees who are currently involved in these areas will join Ennerberg. The cooperation agreement is for five years and Ennerberg's new firm is expected to be up and running by September 1.