Multi-boutique manager platform Spouting Rock Asset Management has purchased an ownership stake in Altan Asset Management for an undisclosed sum.
Altan, headed by the firm’s chief investment officer Rehan Chaudhri, currently provides investment strategies across global and international value equities.
The investment management firm leverages a fundamentals-based investment approach that has been formed on undervalued stock-driven opportunities as well as the changing global environment, risk and local aspects.
Chaudhri said: “Our process allows our clients to align their goals with a long-term fundamentals-driven investment approach.
“We aspire to provide consistent returns and attractive risk metrics.
“Spouting Rock’s ideology matches this commitment. We are delighted and privileged to join a team that shares common values and has an unwavering dedication to their clients.”
The latest acquisition allows Spouting Rock to benefit from Altan’s global and international strategies, according to the firm.
Spouting Rock CEO Marc Brookman said: “Spouting Rock is constantly looking for new opportunities to expand our investment offerings in the US and across global markets.
“Altan’s global and international strategies are a strong addition to the platform.
“The investment management team’s customized approach to analysing global risks and the long-term potential of target stocks has the potential to provide differentiated portfolios for institutional clients, financial platforms and sophisticated investors alike.”
Last month, Spouting Rock announced a deal to buy a majority position at investment manager Reinhart Partners.
In December last year, Spouting Rock also agreed to acquire New York-based investment management firm Stewart Asset Management.