French asset management firm iM Global Partner has purchased a 40% stake in California-based value equities manager Scharf Investments.
The companies did not divulge the deal value.
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Set up in 1983, Scharf is an employee-controlled company. It is led by president Brian Krawez.
The business oversaw $3.4bn in assets as of 31 March 2019.
The deal is aimed at offering iM Global customers access to a broader range of high-alpha investment strategies.
Scharf offers exposure to the long-only US equity strategy, long-only multi-asset strategy, long/short hedged US equity strategy, and the long-only global equity strategy.
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By GlobalDataiM Global founder and CEO Philippe Couvrecelle said: “Our two distribution platforms in the U.S. and in Europe will support (Scharf) to grow in both the U.S. and international markets.
“This new deal is the fifth investment we have done in the U.S. with our consistent objective to provide access to unique asset management boutiques across the world.”
Last September, iM Global acquired a 45% holding in US-based liquid alternatives manager Dynamic Beta investments.
Earlier in 2018, the French company bought a minority stake in US-based equity manager Sirios Capital Management.
Previously known as iM Square, iM Global also invested in US-based firms Polen Capital Management and Dolan McEniry Capital Management.
