GAM taking 30% stake in QFS
By Christine Williamson | January 14, 2013 3:10 pm
GAM Group will acquire a 30% ownership stake in systematic hedge fund manager QFS Asset Management, confirmed Stacey Coglan, a GAM spokeswoman, in an interview.
Terms and the likely timing of the deal's closure are not being disclosed, Ms. Coglan said.
GAM, a hedge funds-of-funds manager with principal investment operations located in Zurich, Switzerland, and London, is acquiring the minority stake in QFS to provide distribution of the hedge fund manager's investment strategies. For example, GAM will introduce a UCITS fund based on QFS' flagship currency strategy in the U.K. soon after the deal is closed, according to a GAM news release.
QFS will continue to operate independently under its own name from its Greenwich, Conn., headquarters, Ms. Coglan said. QFS managed $1.4 billion in currency, fixed income, volatility and portable alpha strategies as of Sept. 1, according to the firm's most recent ADV filing with the SEC.
GAM managed $42 billion as of June 30.