Hedge fund business P. Schoenfeld Asset Management (PSAM) has acquired a minority stake in CdR Capital, a UK- and Geneva-based private investment office, for an undisclosed sum.
CdR, established in 2012, manages more than $3bn of fee-earning assets and offers investment services for institutional investors, private clients and family offices. The two firms will oversee $5bn in assets in total and will have offices in Dubai, Geneva, London, Miami, New York and Sao Paulo.
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PSAM said that the stake purchase will help it to utilise CdR’s asset allocation and quantitative expertise.
The two firms will cooperate on building joint ventures as well as bespoke client solutions, the hedge fund firm stated.
Commenting on the deal, PSAM partner Caroline Greenwald said: “We have known the founders and partners of CdR Capital for many years and their approach is thoughtful and innovative. We are excited to partner with them as we enhance two decades’ investment experience so we can best serve both our current and future clients.”
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