SPARX Asset Management and IXIS CIB have agreed to form a joint venture focused on creating managed funds of alternative assets in Asia.
The partners will join their efforts to create a hedge fund platform of single manager funds aimed at channeling more investments to Asian hedge fund managers through direct investments and structured products.
SPARX will select hedge fund managers in Asia and provide asset management
expertise in hedge funds and funds of hedge funds. IXIS CIB's contribution will involve due diligence, risk monitoring and structuring expertise.
"We are delighted in partnering with IXIS CIB as a leader in alternative investments, product structuring and innovation. Our joint efforts to create a dedicated hedge fund platform in Asia will hopefully provide unique solutions and guide global capital flows into the Asia Pacific hedge fund community", said Shuhei ABE, Founder, President, CEO & CIO of SPARX.
"This joint venture is the result of the productive partnership that SPARX and IXIS CIB have built over the years. We are very honored to be given the opportunity to strengthen our presence in Asia in teaming up with one of the leading and most recognized management firms in Asia. The joint venture will also further advance IXIS CIB's top-tier position in the fund structuring business", added Nicolas FOURT, member of the executive board of IXIS CIB.
Background Note: SPARX Asset Management is the largest independent asset management firm in Japan with USD 9 billion assets under management of which USD 4.3 billion is managed in alternative investment strategies. IXIS Corporate & Investment Bank, Groupe Caisse d'Epargne's financing and investment banking arm, provides among other products and services a wide range of expertise in structured products on fund of hedge funds and single manager hedge funds.