Australia-based Blue Sky Alternative Investments has agreed to completely acquire hedge fund Investment Science, which is currently managing around $70 million worth assets.
An agreement to this effect was signed by Blue Sky and Investment Science, which is yet to get approval from the shareholders.
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The acquisition covers 100% Blue Sky scrip and front and deferred consideration components, while the Investment Science’s key employees will continue to manage its funds, following the completion of acquisition.
As part of the transaction, Blue Sky will evaluate Investment Science’s overall hedge fund strategy and is anticipating to rationalize its product offering.
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By GlobalData
