Spanish Fund of Hedge Funds Shop Acquires U.K. Counterpart

Jan 9 2008 | 12:17pm ET

Madrid, Spain-based Altex Partners has increased its size and international presence with the acquisition of British-based Alpha Value Management. Both firms specialize in funds of hedge funds.
 
The merged firm will manage US$400 million in funds of hedge funds in Ireland, Spain and Luxembourg, and will have registered investment management companies both in Spain and the U.K. Coinciding with the merger, Santiago Alarcó has joined Altex as a London-based partner. Previously, he was a global macro fixed-income proprietary trader at ABN AMRO in London.

"For us, it is a way of adding talent, assets under management and international presence,” said Carlos Dexeus, Altex Partners’ CEO. “Santiago's experience as managing director in the arbitrage trading department in Salomon Brothers, as well as other positions in ABN and Morgan Stanley is a key complement to Altex’s management team."


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