Mariner To Merge With Concordia Advisors

Jan 15 2013 | 9:56am ET

The $10.2 billion, Harrison, N.Y.-based Mariner Investment Group will merge with Concordia Advisors, an alternative asset manager with $1 billion in assets under management.

Concordia, with offices in New York City and London, was founded in 1993 and currently manages several commingled funds and separate accounts with a focus on relative-value trading in the rates, credit, and equity markets. The firm employs 18 investment professionals.

Under the terms of the deal, Concordia’s portfolio managers Arun Puri, John Eckert (G10 Rates); James Wise and Chris Dillon (municipals); and Jason Cheung (equities), will continue to manage their respective funds under the Mariner brand.

Mariner will absorb all Concordia’s business operations, providing IT, risk management, back office, marketing, investor relations, legal, compliance and other business services to the Concordia funds.

Concordia CEO and portfolio manager Basil Williams, a 20-year industry vet, will become Mariner’s deputy CIO and serve on Mariner’s investment and management committees, working closely with Mariner founder and CIO William J. Michaelcheck.

“Basil is a consummate investment professional who understands the opportunities and risks that alternative asset managers face in a variety of market environments. Basil and the Concordia portfolio trading teams are a welcome addition to Mariner’s business. The synergy of our views and experience will enhance Mariner’s skilled team of investment professionals and offer our clients additional resources and investment opportunities,” said Mariner CEO Bracebridge Young in a statement.

Valores Capital Partners served as Concordia's financial advisor in the transaction.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Hedgie Funds US Squash Program

Dec 24 2014 | 8:46am ET

Squash, anyone?

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

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.