Toronto-based multi-strategy hedge fund manager Polar Asset Management Partners has acquired Castlefield Associates, a relative-value, systematic futures-focused hedge fund, in a move that bolsters its quantitative investment footprint, according to a report by Pension & Investments.
Castlefield, founded in 2019 by Chris Schindler and partners, brings $160m in AUM and a track record of developing systematic relative-value strategies across global futures markets. The firm’s models are seen as highly complementary to Polar’s existing strategy suite, which spans multi-strategy, equity long/short, and micro-cap equities.
As part of the integration, Polar is launching a new systematic strategies division, with Schindler stepping in as strategy lead for the effort.
Financial terms of the deal have not been disclosed.
Schindler brings deep institutional pedigree to Polar, having spent 18 years at the Ontario Teachers’ Pension Plan, where he built and led the global systematic investing team. His work there spanned over 50 quantitative models covering liquid futures, cash equities, and volatility instruments.
Polar currently manages $6.1bn across four main funds, including its flagship Polar Multi-Strategy Fund, US equity-focused Long/Short Fund, Micro-Cap Fund, and CRS Fund-1.
