The co-founder of Spotify is placing some of his estimated $6.1 billion fortune into a new investment firm that plans to unearth hidden gems overlooked by equity analysts.
Martin Lorentzon, the Swedish serial entrepreneur who still retains an 11.1% holding in the music streamer, has bought a roughly 90% stake in Stockholm-based Cervantes Capital AB. The asset manager plans to look for companies that don’t get much attention from research units at the major banks.
