StormHarbour Partners, a global markets and financial advisory firm, has accelerated the build-out of its alternative asset management business by agreeing to acquire London-based Fortrinn Partners, an investment manager that specialises in volatility trading strategies.
The acquisition, through which Fortrinn Partners will be renamed StormHarbour Alternative Investments, is subject to FSA approval.
Fortrinn Partners was founded by chief executive and former principal of MKM Longboat Keith DeCarlucci and Antonis Giannopoulos, who have been working together for over eight years.
Fortrinn Partners currently manages the Fortrinn Convexity Fund. The fund’s trading strategy is designed to benefit from markets risk re-pricing.
Under the terms of the acquisition, DeCarlucci will continue to manage the Convexity Fund, while joining the executive committee of StormHarbour Alternative Investments, led by Thierry Sciard, a managing principal of StormHarbour and SHAI chief executive, and Nicolas Andine, a principal of StormHarbour and SHAI chief investment officer.
Sciard says: “This acquisition represents a tremendous opportunity for SHAI to accelerate its development. Keith and his team have built over the years a highly efficient, reliable and scalable infrastructure. Thanks to the StormHarbour’s group strengths, we intend to leverage it to create a truly world class alternative asset management platform capable of supporting a collection of dedicated funds offering investors the highest of standards and best-in-class investment solutions.”
DeCarlucci adds: “There are many opportunities in the market for volatility trading strategies and we firmly believe that our ability to capitalise on these opportunities will be enhanced by StormHarbour’s support and resources. Antonis and I will continue to manage the Convexity Fund as we always have – independently and with a disciplined approach to investing that has enabled us to generate excellent returns for investors. Furthermore, I look forward working with Thierry and Nicolas to achieve our objective of making SHAI a world class alternative asset management platform across multiple strategies and asset classes.”
