Gottex Fund Management has acquired a major stake in UK’s multi-asset boutique Frontier Investment Management.
Frontier’s has $550m of assets under management (AuM) across its range.
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Michael Azlen, founder and CEO/CIO of Frontier, will retain a substantial equity interest in the business and will continue to lead it. He will also join Gottex as a senior executive in its multi-asset business.
Azlen will expand Gottex’s European multi- asset business, starting from Frontier’s UK base. He will report to Bill Landes, global CIO of Gottex’s multi-asset business.
The consideration involves a combination of Gottex shares (up to 450,000 at the current share price) and additional cash, payable over a period of two years and adjusted for Frontier’s future revenues.
Commenting on the move, Landes said: "At Gottex, we firmly believe alternatives oriented multi- asset investing is an area of enormous strategic potential for the asset management industry in both the short and long term.
"The combination of Gottex and Frontier establishes one of the leading alternatives oriented multi-asset investment teams, which will allow us to offer our clients an enhanced range of investment solutions in this fast growing area."
