Sciens Buys Partners Managed Accounts Platform

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.


In Depth

Virtu Celebrates Another Year Without a Single Day of Losses

Feb 26 2015 | 9:05am ET

High-frequency trading firm Virtu Financial Inc. reported another year without a...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk: How To Get In Front Of The Problem

Feb 26 2015 | 9:53am ET

In considering the topic of risk in the hedge fund world, specifically, the oversight...

 

Editor's Note