US firm Saguenay Capital and London-based Strathmore Capital have merged and formed Saguenay Strathmore Capital (SSC), an alternative investment manager focused on customised fund of hedge fund portfolios.
Following the merger, which is subject to regulatory approvals and is expected to complete in July 2011, the firm will have US$2bn (€1.42bn) in combined assets under management and advice.
The combination of Saguenay’s US manager coverage and Strathmore’s European manager research will extend the reach of the merged group. The firms claimed that, "Saguenay’s team of senior fund managers, with its successful track record and experience in managing customised global hedge fund portfolios, complements Strathmore’s rigorous investment processes, deep operational due diligence and risk analytics platform."
Brian Walsh, chairman and CIO, SSC, said: “There is a strong common purpose inherent in our two businesses, making the strategic rationale straightforward. Ultimately, we share the same values, ambition and vision for the combined group in building a dynamic alternative investment manager focused on superior risk-adjusted returns for our clients.”
Stephen Harper, CEO, SSC, said: “This is a growth merger where the synergies of combining deep market experience with institutional processes strengthen the value proposition for all our clients.”
©2011 funds europe