US-based asset management firm Affiliated Managers Group (AMG) has agreed to acquire majority stake in Systematica Investments from BlueCrest Capital Management.
Upon completion of the deal, Systematica’s senior management will retain majority of the equity of the business and manage its day-to-day operations.
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The transaction, whose financial terms have not been disclosed, is scheduled to complete by 31 December 2015.
Additionally, Systematica’s senior partners have agreed to remain committed to the firm in the long term as part of the deal, AMG said in a statement
Systematica, based in Geneva, Switzerland, manages $8.8bn in assets for pension funds, sovereign wealth funds, endowments, foundations, and HNWIs. It also has offices in London, New York, Singapore, and Jersey.
Headed by Leda Braga, Systematica provides a number of distinctive strategies, including trend-following and quantitative equity investing in both traditional hedge fund vehicles as well as liquid alternatives.
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By GlobalDataBraga said: "Given our proven, disciplined investment process and innovative product set, we are well-positioned for future growth, and our partnership with AMG allows us to preserve our operational and investment autonomy, which are vital to our culture and ability to continue to generate excellent returns for our clients."
BlueCrest CEO Michael Platt said: "AMG has a strong track record of helping such businesses continue to grow and develop further and we have every confidence that Systematica will greatly benefit from their expertise and support."
Meantime, AMG has also agreed to purchase equity interests in Ivory Investment Management and Abax Investments for an undisclosed sum.
