M and A
GAM Completes Acquisition of Arkos Capital
GAM has completed its previously-announced acquisition
of a 74.95 per cent stake in Arkos
Capital, closing agreements with the management of Arkos for
the future purchase of the
remaining 25 per cent.
According to a
statement, by end-2012 all of Arkos’ funds will be distributed
under the GAM
brand. However, the management of all investment strategies will
remain
unchanged, with the investment team fully retained and continuing
to operate
from its current base in Lugano, Switzerland.
The Swiss
Financial Market Supervisory Authority has approved the
transaction and there
are no anticipated significant integration costs.
As at 30 June,
Arkos had SFr729 million (about $744.3 million) in assets under
management. Its
range of absolute return funds - offshore and onshore - includes
long/short
equity strategies covering Europe and emerging markets, as well
as a specialist
offering focusing on financial securities and an active
convertible bond
strategy.
GAM had SFr44.8
billion (45.3 billion) in assets under management, as at
end-2011.
