Baloise Asset Management has bought a minority stake in Tolomeo Capital, a quantitative asset manager headquartered in Zurich.
Financial terms of the deal were not divulged.
Baloise aims to fortify its position as one of the leading Swiss rule-based asset managers through the deal.
The firm also plans to tap into synergies and complementary capabilities in automated investment solutions and alternative investments.
Tolomeo Capital Ivan Popovic CEO said: “We are confident that combining our capabilities and technologies with those of Baloise Asset Management in this partnership will help us to jointly establish ourselves in the market as a reliable and competent service provider.”
The deal forms part of Baloise’s strategy to address the hurdles related to data- and technology-based asset management.
Established in 2011, Tolomeo Capital focuses on data-driven and rule-based investment strategies in liquid asset classes.
Baloise too has expertise in rule-based investment solutions.
The deal is said to be a response to rising demand from institutional investors for transparent and cost-effective investment solutions.
Commenting on the alliance, Baloise Asset Management head Matthias Henny said: “The focus of this strategic partnership is not only on the collaborative development of products and solutions. It also promotes know-how sharing in the field of rule-based investing and associated activities such as risk management and investment operations.”
Last year, Baloise picked a stake in Brainalyzed Finance, a German start-up that focuses on evaluating data using artificial intelligence (AI) technology.
The use of AI by Baloise was specifically aimed at strengthening its third-party asset management business.