<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001218210</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>E-EQUITY</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001978867</issuerCik>
        <issuerName>Cadeler A/S</issuerName>
        <issuerCusip>K1R4A3101</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>KALVEBOD BRYGGE 43</com:street1>
          <com:city>COPENHAGEN V</com:city>
          <com:stateOrCountry>G7</com:stateOrCountry>
          <com:zipCode>DK-1560</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>NORDEA INVESTMENT MANAGEMENT AB</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>V7</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>19983739.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>19983739.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>19983739.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>5.7</classPercent>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Cadeler A/S</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>KALVEBOD BRYGGE 43, COPENHAGEN V, DENMARK, DK-1560</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Nordea Investment Management AB</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>M 540, 105 71, Stockholm, Sweden</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Sweden</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>FI</typeOfPersonFiling>
        <otherTypeOfPersonFiling>Investment Company</otherTypeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>19,983,739.00</amountBeneficiallyOwned>
        <classPercent>5.7 %</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>19,983,739.00</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>19,983,739.00</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
        <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &amp;#167; 240.14a-11.

</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>NORDEA INVESTMENT MANAGEMENT AB</reportingPersonName>
      <signatureDetails>
        <signature>Rasmus Kroner</signature>
        <title>Analyst</title>
        <date>01/29/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
