Cantor Fitzgerald has struck a deal to acquire UBS’s O’Connor alternatives investment platform, adding $11bn in hedge fund, private credit, and commodities assets to its books in a major expansion of its asset management division.

The transaction – which is expected to close in Q4 2025, pending regulatory approval – will see Cantor Fitzgerald Asset Management (CFAM), which currently manages $14.8bn across public and private vehicles, absorb O’Connor’s investment and support teams. The platform will continue to operate under its established brand as a distinct business unit within CFAM, reporting to Bill Ferri, Cantor’s Global Head of Asset Management and a founding member of the original O’Connor team at UBS.

O’Connor brings with it over 25 years of institutional trading heritage, specialising in relative value hedge fund strategies, private credit, and commodities investing. The platform serves institutional and ultra-high-net-worth clients globally and is known for its focus on risk-adjusted returns.

A possible deal between UBS and Cantor was first reported by Bloomberg earlier this month.

“This acquisition is a high-conviction investment in the future of our asset management business,” said Brandon Lutnick, Chairman of Cantor Fitzgerald in a press statement. “We’re doubling down on growth and broadening the value we bring to clients.”

Cantor will also enter into a long-term distribution partnership with UBS Asset Management, allowing O’Connor products to remain available to UBS Global Wealth Management clients, subject to standard due diligence.

Kyle Lutnick, Executive Vice Chairman of Cantor, called the deal a “bold step forward,” while Ferri highlighted the strategic fit: “Our deep experience with O’Connor positions us to expand the platform while maintaining its core investment identity.”