GAM Buys Hedge Fund Arkos

Feb 29 2012 | 2:15pm ET

Fund of hedge funds GAM Holding has bought a fellow Swiss fund manager—the first of what could be a series of acquisitions.

GAM paid 10 million Swiss francs (US$11.5 million) for a majority stake in Arkos Capital. Lugano-based Arkos, which has 664 million Swiss francs in assets under management, had been looking for a larger firm to partner with, Financial News reports.

The acquisition gives GAM its first equity long/short strategy since the exit in 2009 of Ross Holliman. Arkos focuses on European and emerging markets.

As part of the deal for Arkos, GAM acquired roughly three-quarters of the firm, including the stake previously owned by Swiss private bank Banca Arner. GAM will buy the remaining shares in three years.

A GAM spokeswoman told FN that the Arkos deal may not be its last. The cash-rich firm is eyeing other possible single-manager acquisitions.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Maglan Capital: Some Lessons Learned From Puerto Rico

Jul 13 2017 | 8:00pm ET

Although Maglan Capital has not been invested in Puerto Rico for more than three...

 

From the current issue of