Singaporean asset manager EFA Group has agreed to take over as investment manager of Galena Asset Management’s commodity trade finance fund.
The move will offer the Galena fund access to the EFA network in Asia.
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The fund’s existing portfolio manager Alexandre Vieira and investment analyst Gregoire Lamare will now join EFA.
EFA CEO Francois Dotta said: “Our aim over the next few years is to provide our investors access to the whole spectrum of trade finance solutions. The Fund serves as another entry point for investors to gain exposure to the asset class but through a different universe of borrowers.
“While our existing fund vehicles focus on transactional, short-term lending to mid-market companies, the Fund specializes in syndicated loans alongside banks and large traders on a global reach. The very complementary nature of these strategies will bring substantial synergies and long-term value for our investors.”
Galena Commodity Trade Finance Fund invests in mid-term structured trade and commodity finance transactions originated and administered by banks and trading firms. The fund has delivered nearly 5% in annual net returns without any negative months since its launch in 2010.
Galena CEO Maximilian Tomei said: “The process attracted interest of several parties but after careful consideration we have come to a unanimous decision that EFA is the right fit to manage the Fund.”
