Hedge Fund Nexar Buys Allianz Fund Of Funds Unit

Sep 14 2010 | 1:23am ET

Hedge fund Nexar Capital Group has struck a deal for Allianz’s fund of hedge funds business, giving the New York- and Paris-based firm a European fund of funds business.

Terms of the agreement were not announced. Allianz Alternative Asset Management employs about 30, and will serve as a complement to Nexar’s New York-based fund of funds business. The combined firm will boast more than US$3 billion in assets under management.

“AAAm will be an important part of our group and reinforces our capabilities in Europe,” Arié Assayag, Nexar’s co-founder and CEO, said. “This transaction is a significant milestone in our strategy of becoming one of the leaders in the alternative industry.”

AAAm chief Jean-François Vert will continue to lead the business. He said that the firm’s clients “will benefit from Nexar’s proven investment and risk management processes.”

Nexar was founded last year by 30 top bankers from the French bank Société Générale. It is backed by private equity firm Aquiline Capital Partners.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note