Funds
eFront, an alternative investment software solutions provider backed by private equity firm Francisco Partners, has acquired DMLT, a provider of investor reporting and portal services for the alternative asset community.
“I am pleased to bring together two world-class organisations to better serve the global alternative investment market,” says Olivier Dellenbach (pictured), eFront founder and CEO. “eFront and DMLT offer proven and complementary solutions. Together, these platforms will set the standard for the next generation of investor portals which are needed to facilitate the transfer of increasingly rich sets of information between parties within the AI community.”
eFront’s global operation will
The existing management team of Larch Lane Advisors, a specialist in early stage hedge fund investing and seeding, is to acquire the business from parent company Old Mutual Asset Management (US).
The transaction is expected to close by the end of 2012. Following the close of the transaction, Larch Lane will be 100 per cent employee owned and its management team, led by Mark Jurish, will continue to operate the business in the same manner as it is currently conducted, with no changes to its executive team, operating procedures, or investment philosophy.
"There is no better investment than in our
This week saw the launch of a new UCITS IV platform by Bryan, Garnier Asset Management (BGAM). The Bryan Garnier Umbrella Fund SICAV plc is domiciled in Malta and externally managed by Paris-based BGAM, who are regulated by the Autorité des Marchés Financiers (AMF).
The first US sub-fund to join the platform is Denver-based Madison Street Partners, an equity long/short shop. BGAM aims to introduce a range of US hedge funds into the UCITS universe, with Steve Wallace, Managing Director, quoted as saying: “There continues to be a dearth of US hedge funds in the UCITS universe, especially when you
Bryan Garnier Asset Management (BGAM) has launched the Bryan Garnier Umbrella Fund Sicav.
The fund is domiciled in Malta and externally managed by Bryan Garnier Asset Management in France which is regulated by the Autorité des Marchés Financiers (AMF).
Top tier service providers have been selected with Deutsche as custodian, fund administrator and responsible for FX share class hedging while PwC will be the auditor and Lecocq Associate external legal counsel.
Vania Mareuse, managing partner of BGAM, says: “It has taken some time to arrive at this point but we are extremely happy with the structure, the service providers
SS&C Technologies, a provider of financial services software and software-enabled services, has acquired full-service fund administrator Gravity Financial.
The transaction, which adds 40 fund services customers and 10 staff, supports SS&C’s strategy of targeted growth and leadership in the alternative fund services industry.
The acquisition will provide Gravity’s clients with access to the same team they work with today, backed by SS&C’s broader range of software and services for the alternative investment management industry.
“This acquisition expands our fund services capabilities with a talented group of professionals,” says Bill Stone (pictured), chairman and chief executive officer, SS&C Technologies. “The
Assets of the Matrix Lazard Opportunities Fund have merged with the newly created Dublin-domiciled Lazard Opportunities Fund following the recent decision by Matrix Group to close its dedicated UCITS platform reported Investment Europe this week.
It becomes part of Lazard Global Investment Funds, an Irish-registered open-ended investment company. Lazard Opportunities Fund is a relative value capital structure and convertible arbitrage fund focused on special situations and events trading and offers investors weekly liquidity. Commenting on the new fund Mike Wariebi, head of alternative investments in Europe and the Middle East at Lazard Asset Management said that they anticipated “significant demand”
SEB’s Dynamic Manager Alpha fund is now accessible to retail investors via a new Ucits format.
Launched in 2005 as a managed account, the strategy has a seven year track record, returning consistent positive growth every year since inception.
The fund was launched in Luxembourg Part II format in 2008 and received a gold rating from S&P in 2011, with current AUM of USD170m.
Kerstin Cooley (pictured), senior product manager, hedge funds at SEB, says: “As retail investors become more sophisticated and independent in making their investment decisions, they continue to ask for access to institutional products which offer
Kleinwort Benson Group (KBG), the wholly owned subsidiary of financial services group RHJ International (RHJI), has reached agreement with Deutsche Bank to acquire BHF-BANK, a German private bank.
The transaction is subject to regulatory approvals.
Under the transaction, KBG will acquire 100 per cent of BHF-BANK for an agreed consideration of EUR384m, which will be paid in cash and is subject to closing purchase price adjustments.
In addition to funds provided by RHJI, the associated capital increase in KBG is supported by Fosun Group, AQTON SE (the wholly owned strategic investment company of German entrepreneur Stefan Quandt), entities affiliated with
A new report by KPMG has found that European asset managers are strongly opposed to plans by the European Commission to categorise some UCITS funds as “complex” reported the Financial Times this week.
The report surveyed 23 fund houses accounting for 25 per cent of the EUR6trillion UCITS fund industry; 19 of them oppose the plans to divide UCITS into complex and non-complex products. This threat is arising from Mifid II and could potentially make it harder for managers to sell their products in non-European markets like Asia – where they are strongly favoured – and Latin America.
The point
Franklin Resources, which operates as Franklin Templeton Investments, has agreed to acquire a majority stake in K2 Advisors, an independent fund of hedge funds manager.
The acquisition will enhance Franklin Templeton’s alternative investments and multi-asset solutions platforms.
The proceeds of the acquisition will be used by K2 to purchase all of the equity currently held by TA Associates and to retire all of K2’s debt obligations. The current management of K2 will not sell any of its interests at this time and will receive no up-front consideration in the transaction.
Beginning in 2016, Franklin Templeton will acquire the remainder of
