#esg#family office#fund selector#investments#sweden

Building on family values

AltoCumulus is the asset management and family office operation of the Axel Johnson Group, which was founded in Sweden 1873. Tell Media Group sat down with CIO Lars Hagerud and CEO Mattias Karlkjell for a longer interview covering corporate culture, sustainability and of course asset management.

Niklas Tell 2026-01-05

Interview

Traditionally one might think that a significant Swedish family office would sit somewhere close to Stureplan in central Stockholm. That’s however not the case with AltoCumulus who can be found more towards the outskirts of the city.

“There’s a certain noise around Stureplan that’s quite nationally focused. We have a broader universe,” says Lars Hagerud, the CIO of AltoCumulus. CEO Mattias Karlkjell continues: “It’s almost more likely that we will talk to someone in San Francisco than someone sitting at Stureplan.” AltoCumulus is one of four companies in the Axel Johnson Group – and it’s also the newest in a group that traces its roots back more than 150 years. The other three are Swedish Axel Johnson AB, US industrial group Axel Johnson Inc and Swedish real estate company Axfast. The family office was started on the

The full article is only available to subscribers

If you’re new to Tell Media Group, create an account first.