Perella Weinberg Partners’ asset management unit acquired the investment team and track record of Tokum Capital Management.
Emile Westergaard, Tokum’s founder, will join Perella Weinberg as a partner.
Terms of the deal were not disclosed, according to a news release. Information about whether Tokum Capital Management will remain open was not available.
Perella Weinberg will initially invest $75 million in Tokum’s flagship global health-care long/short equity strategy.
“We are continuing to execute on our plan to grow the asset management business by identifying exceptional investment talent to augment our diversified suite of alternative investment strategies,” Tarek Abdel-Meguid, Perella partner, said in news release.
Perella Weinstein’s asset management unit managed $5.5 billion as of Dec. 31.