Investcorp, a leading provider and manager of alternative investment products, announced the acquisition of the Hedge Fund of Funds business unit of SSARIS Advisors, LLC’s (“SSARIS”), an investment manager of absolute return hedge fund strategies and hedge fund of funds strategies headquartered in Wilton, Connecticut.
Four key members of SSARIS’ hedge fund of funds investment team are joining Investcorp this week in New York. The investment management of absolute return hedge fund strategies will remain with SSARIS.
The acquisition follows last week’s announcement which outlined Investcorp’s new strategy for the medium-term. Mohammed Al Ardhi, Executive Chairman of Investcorp, told investors and shareholders at the Firm’s annual conference that Investcorp will continue to expand and innovate its product set to enable investors to access new alternative investment opportunities, enhancing their ability to construct diversified portfolios across multiple markets with the objective of achieving attractive returns.
Commenting on this acquisition, Al Ardhi said, “This transaction is an exciting development for Investcorp and is part of our drive to expand product lines and grow assets under management, as outlined in our recently announced new strategy for the Firm.”
He added, “We believe this acquisition will create value for our investors and shareholders and enhance our ability to generate returns. We are confident that the team joining from SSARIS will contribute to our ability to bring innovate alternative investment products to clients in the Gulf as well as the West.”
With this business unit’s approximately $800 million in discretionary and advisory assets, and clients across the U.S., Europe and Asia, this acquisition will help grow Investcorp’s existing Hedge Funds platform and is consistent with its long term strategy to focus on its four areas of expertise: Fund of Funds, Single Managers, Special Opportunity Portfolios and Alternative Beta solutions, and to seek superior returns for its clients.
This acquisition complements the growth initiatives that Investcorp has commenced in its other product lines. Investcorp launched its Alternative Beta offering in June 2015, and recently announced a strategic partnership with Nut Tree Capital Management through its Seeding Platform. Investcorp continues to invest in new senior talent bringing additional resources across its platform. As of June 30, 2015, Investcorp’s Hedge Funds business has approximately $4.1 billion in assets under management (“AUM”) including assets managed by third party managers where Investcorp receives fees calculated on the basis of AUM. The Hedge Fund Business’ regulatory assets under management, as defined by the US Securities and Exchange Commission, as of June 30, 2015 was $1.9 billion.