Oddo Asset Management is stepping up its development and launching a dedicated M&A alternative management activity. This absolute performance strategy mainly consists of investing in companies which are takeover targets, taking advantage of the difference between the share price and the price offered by the buyer.
The fund was launched on 1 June, with the Oddo Group providing initial financing of EUR100m. The objective is to reach EUR300m in assets under management by end-2012, particularly from qualified European and Asian investors.
Guido Mundt, CEO of Oddo AM, says: "This launch is a perfect example of the synergies unlocked through the tie-up with Banque d’Orsay. It also confirms our aim to accelerate our development by proposing new offers adapted to our clients."
The new structure, Oddo Alternative Investment, composed of nine alternative management professionals, will draw on the fifteen years experience acquired by Christian Fleury as head of "M&A arbitrage strategy" for Banque d’Orsay’s proprietary activities. The original team has been strengthened with three compliance and risk experts, a product and investor relations specialist and an assistant fund manager. Pierre Baudard has been appointed Head of this new business.
