ICM Partners has taken a minority stake in Stockholm-based lit agency Albatros.

As part of the investment, ICM veteran Pete Stone will relocate to Sweden and help run Albatros alongside founders and managing partners Martina Österling and Elin Sandström Lundh. The duo founded Albatros in 2017.

The deal with Albatros is part of ICM’s effort to expand its global footprint in key territories. It comes on the heels of ICM’s similar investment in London-based music agency Primary Talent International in March.

ICM Partners’ London office flagged an investment in Albatros as an opportunity for agency CEO Chris Silbermann. After meeting with Österling and Sandström Lundh, Silbermann realized they would be a good fit with ICM’s existing lit operations. The Nordics have become a hot territory for Hollywood IP, from novelist Stieg Larsson’s “Girl With the Dragon Tattoo” series to TV formats and films.

“They have great clients and great formats. We’re really impressed with Martina and Elin as agents and as entrepreneurs,” Silbermann told Variety. “We’re impressed with what they’ve built in a short time.”

Stone’s decision to relocate his family to Stockholm is a sign of ICM’s commitment to expanding the scope of the agency’s activity outside the U.S.

“We try to look at the whole world as an opportunity for our clients,” Silbermann said. “There’s huge opportunities for our clients outside the U.S.”

Österling and Sandström Lundh said the ICM investment will be a huge boon to their enterprise.

“We started Albatros Agency with a vision of boosting talent, working hands on with their projects, creating business opportunities and building long term partnerships,” the pair said in a statement. “We are very proud of what we have established at Albatros so far, but even more excited about this next chapter, and to partner with ICM is a true defining moment for us.”

Stone said he is eager to work with the Albatros partners to boost the careers of local talent as well as developing crossover opportunities.

“As the creative marketplace rapidly globalizes, this venture represents an important step forward in our goal of representing and amplifying the world’s best voices,” said Stone. “Albatros has exceptional
clients and by pairing our industry-leading resources with Albatros’ local expertise we will be able to authentically bring these creators and their stories to the world stage.”