Sunday, 24 May 2015
Last updated 2 days ago
Mar 20 2013 | 12:21pm ET
Swiss fund of hedge funds Gottex Fund Management has taken a majority stake in Frontier Investment Management.
Gottex will pay for the US$550 million firm with a combination of about 1.2 million Swiss francs in Gottex shares and further cash payments over the next two years, depending on Frontier's performance.
Frontier founder and CEO Michael Azlen will retain a "substantial" stake in his firm and will be named a senior executive in Gottex's multi-asset business, which Frontier joins, in addition to retaining his role as head of Frontier, which will see no changes to senior management or its investment team, and which will continue to offer its current product range. Azlen will also be charged with expanding Gottex's multi-asset business in Europe.
The deal requires regulatory approval.
"The combination of Gottex and Frontier establishes one of the leading alternatives-oriented multi-asset investment teams, which will allow us to offer our clients an enhanced range of investment solutions in this fast-growing area," Bill Landes, chief investment officer at US$7 billion Gottex, said.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…