British fund manager Dalton Strategic Partnership (DSP) has acquired local alternative investment management firm MSK Capital Partners for an undisclosed sum.

DSP said that the acquisition is part of its long-term growth plan to expand its product offering, particularly in the liquid absolute return space. The deal will add $230m in assets to DSP’s books.

MSK’s senior managers, including CIO Makis Kaketsis, will join Dalton as part of the deal.

"This is a transformational step for MSK. We have known DSP for many years and are certain that our two businesses are highly complementary,” Kaketsis noted.

MSK will however retain its existing branding for its funds, which mainly comprise global equity long/short portfolios. 

DSP CEO Wence Von Liechtenstein said: “This is an important step forward in the development of Dalton Strategic Partnership. Makis and his team have a very strong investment process, a shared vision and are a close cultural fit. We look forward to welcoming and integrating them into our group.”