Saturday, 28 March 2015
Last updated 1 day ago
Jun 7 2013 | 11:35am ET
Hedge fund Arrowpoint Partners has acquired mutual fund shop Aster Investment Management, entrusting its largest fund to its newest hires.
The deal more than doubles Denver-based Arrowpoint's assets under management, which currently stands at $2.2 billion. Chad Meade and Brian Schaub, who joined Arrowpoint last month, will run nearly as much at Aster's $2.1 billion Meridian Growth Fund when the acquisition closes in the third quarter.
All told, Larkspur, Calif.-based Aster has $2.9 billion in assets; two smaller funds will remain in the hands of current manager James England.
Meade and Schaub are no strangers to mutual funds, having joined Arrowpoint from Janus Capital Group, where they managed that firm's best-performing stock funds.
"The Meridian Funds have a rich history of success spanning over 20 years," Arrowpoint founder David Corkins, himself a Janus alumnus, said. "We welcome the team at Aster Investment Management to Arrowpoint and look forward to partnering with them to continue delivering outstanding investment results to fund investors."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…