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Money Management

Fidante takes minority stake in event-driven manager Latigo Partners

Multiboutique investment manager Fidante Partners has acquired a minority stake in event-driven investing firm Latigo Partners, a spokesman said.

Financial terms of the deal were not disclosed.

As part of the deal, Challenger Ltd. — Fidante's parent company — has also made an investment in Latigo's strategies.

Latigo manages more than $500 million across distressed securities, special situations and long/short credit and equity strategies.

Fidante invests in specialist money managers. The deal gives Latigo access to distribution and business development expertise.

"Latigo's event-driven investment strategy is highly relevant in today's investment climate," said Cathy Hales, global head at Fidante Partners, in a news release. "We are excited by the opportunity to partner with a high-quality team and bring their active investment management skills to the attention of institutional investors in the U.K. and Europe, in addition to other key markets such as Australia and Japan."

Fidante has offices in Sydney, London, Stockholm and New York. It has A$56 billion ($43.4 billion) in funds under management. Parent company Challenger is an investment manager and life insurance company with A$77 billion in assets under management.