Tuesday, 23 August 2016
Last updated 16 min ago
Dec 16 2011 | 9:06am ET
London-based asset manager Northill Capital has acquired a majority interest in Wellfield Partners, a systematic global investment manager.
Under the terms of the detail, Northill will provide dedicated seed and equity capital to support and accelerate Wellfield Partners’ growth in target European and international markets. Northill has committed seed capital of $30 million for a minimum of three years.
As part of the investment by Northill, Wellfield will manage a new Cayman-based fund which will pursue a systematic diversified strategy. The fund, to be launched in January 2012, will be seeded by Northill and is based on an existing separate account strategy which Wellfield has managed since June 2011.
Wellfield Partners was established in April 2009 by Gary Vocat, Kevin Bailey, Jeremy Whitby and Sean Eldridge. The management team has worked together for 18 years, previously as founder members of the currency risk management firm BNY Overlay Associates.
Wellfield Partners employs an adaptive trend-following approach, trading in foreign exchange, financial futures and commodity futures. Northill partner Jon Little will sit on the Wellfield partnership committee.
Said Little:“Wellfield has a strong investment track record and a talented management team who have worked successfully together for many years. We are committed partners for the long-term to support Wellfield’s significant potential for growth and expansion as part of our strategy to build a diversified portfolio of asset management businesses to create long-term value.”
Northill Capital was established in November 2010 by Jon Little, former vice-chairman of BNY Mellon Asset Management, with substantial financial backing from trusts associated with the Bertarelli Family.