Arrowpoint Adds Mutual Fund Firm Aster

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."


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...