MONEY MANAGEMENT

FAB Partners acquires majority stake in Halkin Asset Management

Global alternative investment platform FAB Partners acquired a majority stake in London-based alternatives manager Halkin Asset Management, with the combined company rebranded as Centricus.

A person familiar with the situation said FAB had acquired a 75% stake in Halkin. A spokeswoman declined to comment on transaction details. The deal will support the expansion of Halkin's onshore money management capabilities and its corporate finance advisory business.

Centricus will operate through entities in the U.K. and Jersey. The spokeswoman said the whole investment team at Halkin will remain in their London office and be part of Centricus.

Halkin has a “strong record of successful hedge fund management, providing complete solutions to early-stage and established portfolio managers,” according to a news release.

The transaction also expands FAB's global relationship network, and follows its acquisition of U.S. private debt manager CIFC Asset Management in November, which has $14 billion in assets under management. The FAB platform invests across asset classes, sectors and geographies.

Further details, including assets under management, could not be learned by press time.