iM Global Partner acquired a minority stake in U.S.-based long/short equity money manager Sirios Capital Management.
A spokesman for iM Global Partner said the stake is 15.5%, with the firm purchasing shares from current Sirios partners and certain founding non-executive shareholders.
Sirios is based in Boston and has $2.3 billion in assets under management. The firm works with endowments, foundations, pooled investment vehicles and other clients. It focuses primarily on the U.S. and runs both long/short and long-only strategies.
iM Global Partner, an investment and development platform for global money management, will provide Sirios with select client service, sales and marketing support. It also will provide access to its U.S. distribution platform.
“We are convinced that boutique asset management firms have a unique DNA that enables the most talented of them to provide outstanding returns to their clients,” said Philippe Couvrecelle, chairman and CEO of iM Global Partner, in a news release. “In our opinion, Sirios is one of the best firms in the long-short equity space and is well positioned to turn challenges of our industry into opportunities that drive the next phase of their growth. We are looking forward to working alongside them to accelerate their growth on U.S. and international markets.”
The spokesman added there will be no change to the strategy and management of Sirios.
iM Global Partner has minority stakes in two other U.S. money managers, Polen Capital and Dolan McEniry Capital Management.