Sciens To Buy Atlas Capital

Jul 9 2008 | 11:43am ET

New York-based Sciens Capital Management is buying the institutional investment management business of Atlas Capital Associates, which manages funds of funds that focus on one strategy or theme.

The deal will create an international investment management business with some US$4.8 billion under management and advisory mandates. Atlas' wealth management business, including Deltec Bank & Trust, a wholly-owned private bank in the Bahamas, is not part of the deal and will continue to operate without change.

”Sciens has a presence in the U.S. and manages broadly diversified funds of funds while Atlas is based in London and Guernsey,” said Sciens CEO John Rigas. “The capability to offer both will allow the combined entity to provide unique solutions to our institutional clients.”

Sciens Capital Management manages private equity, venture capital, real estate, aviation assets and funds of hedge funds assets institutional investors.

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