Gottex Fund Management has acquired a majority stake in UK-based, multi-asset manager Frontier Investment Management in a cash and share deal designed to broaden the company's focus from itsmain fund of hedge funds business.
The deal will add Frontier's $550 million (€427 million) under management to the $7 billion of fee-earning assets currently managed by Gottex, which has its headquarters in Lausanne, Switzerland.
Frontier founder Michael Azlen will join Gottex as a senior executive in its multi-asset business while retaining an equity stake in Frontier.
Gottex says it hopes the deal will give it access to UK retail clients via Frontier's links with independent financial advisers in the country.
Frontier's multi-asset investment strategies employ advanced index methods and have a significant allocation to alternative asset classes.
“Gottex provides a global institutional asset management platform with strong investment processes that will allow Frontier’s product line to grow and achieve its potential,” says Azlen.
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