Hedge fund managers Context Capital Management and TQA Investors will merge by the end of the summer into a single firm, Context/TQA Advisors. Combined assets will total $1.2 billion, said Robert Butman, TQAs president and CEO. Managing principals of the new firm will be Mr. Butman, who also will serve as president; Michael Rosen, co-chairman and CEO; and Robert Fertig, co-chairman and CIO. Messrs Rosen and Fertig are Context Capital co-chairmen and CEO and CIO, respectively. Mr. Butman said the firms investment teams are complementary, and layoffs are not expected. The new firm will have offices in San Diego and Stamford, Conn.
Mr. Butman said both firms are institutionally oriented, but its harder to get access to institutional investors if youre a sub-billion hedge fund. This is a huge home run for investors as it significantly deepens our bench when it comes to research.