Morgan Stanley Investment Management acquired Oxhead Capital Management, a market-neutral global hedge fund manager, according to an internal memo sent to MSIM employees today. Oxhead, which has about $100 million in assets under management, was established by Robert Swift, Nathan Eigerman and Daniel Phelps, all Putnam Investments alumni. The team and all assets will move to MSIM.
Oxhead's market-neutral strategy is based on a combination of quantitative and fundamental research, according to the memo, which was sent by Owen Thomas, MSIM president and COO, and Stu Bohart, managing director and head of MSIM's alternative investments business. The acquisition adds "another diversified source of alpha to our portfolios," according to the memo.
MSIM will continue to pursue "a wide range of opportunities" to enhance its alternatives platform, and "we are planning for more internal hires, team liftouts and bolt-on acquisitions," the memo said.