Updated with correction
Pacific Investments Group agreed to acquire a stake in boutique emerging markets equities manager North of South Capital through its asset management arm, Pacific Asset Management, said a spokeswoman.
PAM's spokeswoman declined to elaborate on the terms of the deal.
North of South Capital, which has £100 million ($129 million) in assets under management, will become a division of PAM, she said, but no change of the name is planned.
The firm was founded by Matt Linsey in 2004. The team applies equity, credit and commodity strategies to identify value investment opportunities to emerging markets funds.
Matt Lamb, CEO at Pacific Asset Management, said in a news release: “While passive investment may dominate the headlines, active managers in less efficient markets continue to demonstrate their ability to outperform and none more so than (Mr.) Linsey and the North of South team. We are hugely excited about our new partnership and the continued ability to bring our clients the best of the world's craft businesses in the increasingly industrialized world of asset management.”
PAM focuses on long-only traditional asset classes and UCITS regulated absolute-return strategies for institutional investors, wealth managers, family offices and high-net-worth individuals. Pacific has more than $20 billion in assets under management.