Investcorp Acquires Hedge Fund of Funds Arm of SSARIS Advisors
Expands Hedge Funds Business with First Acquisition
NEW YORK, Nov. 4, 2015 /PRNewswire/ -- Investcorp, a leading provider and manager of alternative investment products, today 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.
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.
"The hedge fund of funds products and team of SSARIS is the first acquisition for Investcorp's Hedge Funds business and clearly affirms our commitment to the expansion of our business to meet investor demand for innovative and customized solutions," said Lionel Erdely, Head and Chief Investment Officer of Hedge Funds at Investcorp. "Prior to agreeing on the integration, both Investcorp and SSARIS spent a great deal of time ensuring that transitioning the team to Investcorp's infrastructure would create value and preserve continuity for the clients of our two institutions. These two factors have been paramount in our decision to move forward on this acquisition. Investcorp and SSARIS are well aligned in terms of Investment philosophy and processes."
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 of June 30, 2015 was $1.9 billion.
About Investcorp
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in New York, Bahrain, London, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the U.S., Europe and the Gulf, real estate investment in the U.S and global hedge funds. As at June 30, 2015, the Investcorp Group had $10.6 billion in total assets under management ('AUM'), including assets managed by third party managers where Investcorp receives fees calculated on the basis of AUM. The Investcorp Group's total regulatory assets under management as of June 30, 2015 was $4.1 billion. Further information, including our most recent periodic financial statements, which details our assets under management, is available at www.investcorp.com.
About SSARIS
SSARIS is an investment manager of absolute return hedge fund strategies and hedge fund of fund strategies, headquartered in Wilton, Connecticut. The company was founded in 1983; it launched its multi-strategy hedge fund program in 1986 and its hedge fund of funds business in 2001. SSARIS provides investment management services to institutional and high net worth clients, including RIAs, banks, trusts, pension plans, ERISA plans, public funds, corporate institutions, foundations and endowments, and high net worth individuals, across North America, Europe and Asia.
SOURCE Investcorp
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