Former spies’ hedge fund ups stake in Ryanair to 4 per cent

A British hedge fund founded by two former Norwegian spies has built up a more than 4 per cent stake in low fares airline Ryanair, stock exchange filings show.

AKO Capital was founded by Nicolai Tangen and Gorm Thomassen, who previously served as intelligence and security officers in the Norwegian army.

According to their fund’s website, Tangen “served in the Norwegian Armed Forces’ School of Intelligence and Security” in the late 1980s where ...