Bainbridge Partners agreed to acquire three alternatives strategies with combined assets of 80 million Swiss francs ($87 million) from GAM Investments, Antoine Haddad, CEO at Bainbridge, confirmed in a telephone interview Tuesday.
The transfer will be completed at the end of March.
The funds — GAM Opportunistic Credit, GAM Diversity and GAM Trading II — are moving from GAM's alternative investment solutions platform.
"We believe that this transfer will be in the best interests of our clients," Jill Barber, GAM's global head of institutional solutions, said in a news release.
In November, GAM said it would close its $200 million alternative investment solutions platform and return assets to investors, according to a spokesman. The strategies transferring to Bainbridge are part of that platform. Details on the remaining assets were not immediately available.
However, Mr. Haddad said that the strategies complement Bainbridge's $400 million multistrategy pure alpha flagship fund — Aperio Master AlphaStrategy.
Bainbridge plans to keep about 60% of the asset composition of GAM Diversity and GAM Trading II strategies, but will add some more systematic exposure, Mr. Haddad said. The acquired strategies "also lack active commodities exposure," he added.
Mr. Haddad added that Bainbridge was also attracted to the strategies because they will expand the firm's client base, adding some U.K. and U.S. pension funds. He declined to disclose the names of the pension funds.
Bainbridge has $1.2 billion in assets under management. GAM had 74.6 billion Swiss francs in assets under management as of Sept. 30.
