Shelton Capital Management, a California-based multi-strategy asset management firm, has acquired Connecticut-based alternative investment manager Cedar Ridge Partners.
The acquired entity manages credit-focussed, long/short and long-only portfolios. Set up in 2004, the business services HNWIs, RIAs, institutional investors and family offices.
As part of the deal, the investment team at Cedar Ridge will move to Shelton as portfolio managers. They include Alan Hart, Guy Benstead, Jeff Rosenkranz as well as David Falk.
“Our unique alternative investment products utilising credit-based, relative value investment strategies complements Shelton Capital Management’s lineup of mutual funds and separately managed accounts,” Hart stated.
Financial terms of the deal were not revealed.
Shelton CEO Steve Rogers said: “We are very pleased to have the entire investment team at Cedar Ridge join us and to continue to successfully manage their unique and highly regarded alternative fixed income strategies.
“This acquisition is part of the firm’s long-term strategy of building scale organically and through acquisitions. Adding the Cedar Ridge investment team and products to our existing fixed income platform is a great strategic fit.”
Established in 1985, Shelton currently has branches in San Francisco, Denver and Greenwich. The firm oversaw more than $1.85bn in assets at the end of December 2018.