Gartmore is launching a fund of hedge funds range aimed at institutional investors across Europe.
The launch follows Gartmore's recent acquisition of Riverview International Group Inc., the US domiciled specialist hedge fund of funds business. Now known as Gartmore Riverview LLC, the New Jersey-based company's portfolio management team is led by Brian Denney and Steve Turi.
Frances Davies, Head of Global Institutional business at Gartmore, said: "The combination of the alternative investment expertise and entrepreneurial spirit at Riverview, along with Gartmore's strong position in the UK and European institutional market provides us with an ideal platform on which to build a pre-eminent fund of hedge funds business."
Ms Davies added: "We believe that Gartmore Riverview will enhance our overall company offering and match the needs of our European institutional clients as they increasingly look to diversify their portfolios by moving into the hedge fund arena."
Stephen Attenborough, recently appointed Head of European Sales, Fund of Hedge Funds at Gartmore, will spearhead the institutional distribution of Gartmore Riverview products and capabilities in Europe.
Mr Attenborough will work closely with John Gallagher, Gartmore Riverview's new managing director, to provide institutions with consultative relationships and portfolio solutions.
Background Note: Gartmore Group is a global asset management buisness providing investment products and services to both retail and institutional investors. The business had UK£50.4 billion in assets under management as at 30 June 2002. It also has a fast-growing range of hedge funds developed in London under the AlphaGen label.
Gartmore Riverview LLC is an alternative investment management firm serving institutional investors. The firm is dedicated to multi-manager hedge fund portfolios construction, active asset management and customised hedge fund solutions. The firm manages funds of hedge funds, acts as sub-adviser to funds of hedge funds distributed by third parties and services institutional investors through separately managed accounts.