Kenmar, Olympia In Merger Agreement

Apr 24 2012 | 5:50am ET

Kenmar Group and Olympia Capital Management have announced plans to merge and create a global fund of hedge funds business.

The new Kenmar Olympia Group will have a combined $3.3 billion in assets under management and offices in New York, Paris, London, Geneva and Zürich, Switzerland, and Singapore. The deal is expected to close in July, pending regulatory approval.

Terms of the deal were not disclosed.

Olympia Group of Companies CEO Sergio Heuer will serve as president and CEO of the combined company. Kenmar co-founders Kenneth Shewer and Marc Goodman will be its co-executive chairmen and global co-chief investment officers.

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