Sunday, 29 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…