GAM to acquire Arkos Capital SA
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GAM to acquire Arkos Capital SA
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GAM is to acquire Arkos Capital SA, an independent asset management firm
regulated in Switzerland with assets under management of CHF 664 million. The
transaction is expected to close before the end of the second quarter 2012,
subject to regulatory approvals. All of Arkos's key personnel, including its
investment professionals, will be retained and will continue to operate out of
Lugano, Switzerland.
Zurich, 28 February 2012: GAM Group AG (GAM), a wholly owned subsidiary of GAM
Holding AG, has entered into agreements for the purchase of 100% of the issued
share capital in Arkos Capital SA (Arkos), a Lugano-based investment manager
with assets under management of CHF 664 million as at 31 December 2011.
Under the terms of the agreements, GAM will acquire 74.95% of Arkos's share
capital immediately after the receipt of certain regulatory approvals, which are
expected before the end of the second quarter 2012. The remaining stake of
25.05%, currently held by the management of Arkos, will be acquired through
deferred cash payments linked to the future development of the business. The
acquisition is expected to be accretive from day one and no significant
integration costs are anticipated.
An investment boutique supervised by the Swiss Financial Market Supervisory
Authority (FINMA), Arkos manages a range of low-volatility, liquid and
transparent absolute return funds, both offshore and onshore. Its offering
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.
Following completion of the transaction, all of Arkos's products will be
distributed under the GAM brand. All investment strategies will continue to be
managed by Arkos's team of eight experienced investment professionals, who will
all be retained and will continue to apply their proven, long-established
investment approach. Arkos will continue to operate out of its Lugano base, with
sales and other support functions supplemented from GAM's Zurich and London
offices.
David M. Solo, Chief Executive Officer of GAM, said: "Arkos represents a
valuable addition to GAM, fully in line with our growth strategy. It has an
outstanding track record of alpha generation and will substantially enhance and
expand our in-house single manager offering. Most importantly, its exceptional
investment team shares our commitment to fundamental analysis and truly active
management, making it a perfect addition to GAM's culture."
Gianmarco Mondani, Chief Investment Officer of Arkos, said: "Since 2002 we have
built a competitive range of products with attractive performance, reflecting a
disciplined investment process that helps us to anticipate changes in market
expectations. Becoming part of GAM will allow us to make a great step forward,
enabling us to offer our strategies to clients in new markets, such as Northern
Europe, the US and Asia, as well as strengthen our access to institutions."
For further information please contact:
Media Relations Zurich, Larissa Alghisi Rubner
Tel. +41 (0) 58 426 62 15
Media Relations London, Stacey Coglan
Tel. +44 (0) 20 7393 8656
Notes to Editors
GAM
Established in 1983, GAM is an independent, active investment manager,
delivering investment solutions to institutions, intermediaries, private clients
and charities from offices in financial centres around the world. Its CHF 50.7
billion(1) in assets under management spans approximately 60 separate investment
strategies across equity, fixed income, absolute return, funds of hedge funds,
discretionary portfolio management and tailored investment solutions. Its aim is
to deliver strong, long-term returns for clients through some of the world's
most talented investment managers. Its focus on performance, risk management,
uncompromising investment standards and partnership with clients enables it to
achieve that objective.
(1 )as at 30 June 2011.
Press release (PDF):
http://hugin.info/143851/R/1589383/499081.pdf
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other applicable laws; and
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originality of the information contained therein.
Source: GAM via Thomson Reuters ONE
[HUG#1589383]
Unternehmensinformation / Kurzprofil:
Datum: 28.02.2012 - 07:01 Uhr
Sprache: Deutsch
News-ID 119157
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