Tuesday, 13 October 2015
Last updated 24 min ago
Apr 12 2010 | 7:42am ET
Partners Group has sold its hedge fund business—a US$700 million managed accounts platform—to New York-based Sciens Capital Management.
Under the deals, Sciens gets Partners’ Guernsey-based Partners Group Fund Services, the Financial Times reports. Sciens plans to shift up to $3.4 billion of its own $4.5 billion hedge fund business to the Partners platform.
The move follows Partners’ spin-off of its alternative beta strategies team in April. The Zug, Switzerland-based firm, which has some 25 billion Swiss francs (US$23.5 billion) in assets under management, aims to refocus on its private equity and other core businesses, and slough off other businesses, including hedge funds.
Sciens’ acquisition of the Partners business will make it one of the largest independent managed account firms in the world, according to the FT.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…