French Fund Of Funds Altigefi Sold

Sep 8 2010 | 11:32am ET

Private bank Sal. Oppenheim has sold its French fund of hedge funds business to Olympia Capital Management.

Terms of the deal for Altigefi were not disclosed. The sale comes as Luxembourg-based Oppenheim quits France; Altigefi’s four Altipro funds of hedge funds will continue, but Sal. Oppenheim France’s long-only funds will be liquidated. Oppenheim was acquired by Deutsche Bank six months ago.

It is unclear how much money Altigefi currently manager; last year, when Oppenheim took full ownership of the firm, it had about US$800 million. Olympia, also based in France, manages about US$2.2 billion.

Olympia also made clear it may not be done participating in the consolidation of the fund of funds industry.

“We will continue to explore these types of consolidation opportunities when they arise,” CEO Laurent Dupreyon said.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.