The acquisition will add close to $800m worth of discretionary and advisory assets, as well as clients across the US, Europe and Asia to Investcorp’s existing hedge funds platform.
This is in line with Investcorp’s strategy to focus on fund of funds, single managers, special opportunity portfolios and alternative beta solutions.
Investcorp hedge funds head and chief investment officer Lionel Erdely said: "The hedge fund of funds products and team of SSARIS is the first acquisition for Investcorp’s Hedge Funds business and clearly affirms our commitment to the expansion of our business to meet investor demand for innovative and customized solutions.
"Prior to agreeing on the integration, both Investcorp and SSARIS spent a great deal of time ensuring that transitioning the team to Investcorp’s infrastructure would create value and preserve continuity for the clients of our two institutions."
Investcorp’s hedge funds business has approximately $4.1bn in assets under management (AUM) including assets managed by third party managers.
As of 30 June 2015, the company’s hedge fund business had $1.9bn in regulatory assets under management.
Investcorp recently formed a strategic partnership with Nut Tree Capital Management through its seeding platform.
Additionally, the company intends to increase AUM by more than 100% over the medium-term, besides expanding its product portfolio and investing in people.
Image: Investcorp has acquired hedge fund of funds unit from SSARIS Advisors . Photo: courtesy of Chaiwat / FreeDigitalPhotos.net.
