Friday, 22 May 2015
Last updated 7 hours ago
Jun 23 2014 | 9:29am ET
Gottex Fund Management is looking both east and west in its bid to buy more than US$3 billion in new assets.
The Swiss fund of hedge funds is eyeing acquisitions in both the U.S. and China, CEO Joachim Gottschalk told Reuters. A deal in Asia could come within six months, he added, while the firm’s partner in China, VStone Asset Management, is seeking the ability to raise money from mainland Chinese investors.
“It’s the U.S. and China where we are looking for further acquisitions and further development on the organic and non-organic front,” Gottschalk said. The firm hopes those purchases will account for about half of a planned US$6.5 billion asset hike, which would give Gottex US$15 billion over the next five years.
“If you look at where the flows of institutions in alternatives go, it goes to the 10 billion-plus investment managers,” Gottschalk said. Gottex is currently just below that threshold, with US$8.5 billion.
Gottex recently acquired fellow Swiss fund of funds EIM.
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…