Alma Capital Investment Management has entered into a partnership, wherein it will become the exclusive distributor of the InRIS alternative UCITS platform of Rothschild & Co Asset Management Europe.
Under the agreement, Alma Capital – a Luxembourg-based alternative specialist – took over the management of the €500m InRIS platform,
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Rothschild & Co Asset Management managing partner Pierre Baudard said: “This agreement is a significant step in our plan to refocus our strategy on our core expertise.
“Of course, alternative investments remain present in our portfolios and we will continue to be invested in absolute return strategies through our multi-management and private banking activities.”
InRIS comprises five equity long/short and systematic UCITS funds, which are said to be complementary to Alma Capital’s alternative and long only fund offering.
Each of InRIS’s funds are managed by an external hedge fund manager.
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By GlobalDataThe latest move is Alma Capital’s second deal in 2020. Earlier, Alma Capital snapped up the UCITS hedge fund business of DWS.
The DWS business managed €2bn AUM across six vehicles using strategies such as alternative credit, event driven, managed futures as well as global macro.
Commenting on the deal, Alma Capital CEO Henri Vernhes said: “This acquisition is part of our core strategic business and is a testament to Alma Capital’s position as an independent consolidator in the Ucits platform space.”
In July this year, Rothschild & Co Asset Management Europe agreed to transfer its €350m alternative multi-asset management unit to asset manager Candriam.
The deal included the alternative investment fund of funds as well as a micro-finance fund.
