AllianceBernstein, a US investment management firm, has completed the purchase of CPH Capital Fondsmaeglerselskab (CPH Capital), a Denmark-based equity investment manager for an undisclosed sum.
Terms of the acquisition were not disclosed.
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As part of the acquisition, AllianceBernstein will market the CPH Global Core Equity strategy as a Luxembourg-based UCITS fund and in separate accounts from the start of next month.
Additionally, the CPH investment team which includes six satff will remain in place and continue to manage their strategies themselves.
The investment team is haeaded by David Dalgas, and includes senior team members such as Klaus Ingemann and Kenneth Graversen.
Sharon Fay, head and CIO equities at AllianceBernstein, said: "They bring an investment approach that combines active stock selection with rigorous risk management. The resulting portfolios exhibit high active share and remarkably consistent alpha."
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By GlobalDataCPH Capital manages approximately $3 billion in global equity strategies for institutional and retail clients, while AllianceBernstein has managed $466 billion in assets under management as of 31 May 2014.
