UK-based investment firm Asper Investment Management has agreed to sell its 100% stake in Vasa Vind Holdings to funds managed by APG Asset Management.

Asper agreed to sell the stake on behalf of one of its funds under management.

The financial details of the deal have not been disclosed.

Asper director Allister Sykes said: “Our work with Vasa Vind over the last eight years is a great example of Asper’s strategy to Build the New.

“We are proud of our legacy and delighted with what Vasa Vind has achieved over this period.

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“Together we have mobilised more than €400m of investment in new-build sustainable energy projects and built a highly professional team capable of delivering many more projects in the future.”

Established in 2013, Vasa Vind has developed and built large-scale onshore wind projects with 337MW of combined capacity in Sweden.

Asper claims that under its management, Vasa Vind has become a leading developer and operator of onshore wind projects in the Nordic region.

The company is currently developing a 60MW project and a greenfield project pipeline with 1GW of combined capacity.

It also offers a full suite of operational, technical and commercial management services for five operational wind farms, whose total capacity comes to 525MW.

Vasa Vind CEO Mattias Sjöberg said: “Vasa Vind is committed to contributing to society by delivering substantial volumes of renewable energy and supporting the green industrial transformation.

“We would like to thank Asper for their important contribution and vision to build Vasa Vind from a team of three people back in 2013 to the successful business it is today.”

For the deal, APG Asset Management was advised by Roschier as legal advisor.

EY Corporate Finance served as the company’s mergers and acquisitions, financial and tax advisor and DNV acted as its technical advisor.