William Blair Investment Management will acquire Singer Partners, a global macro hedge fund and multiasset class solutions investment boutique, effective June 30.
Singer will close and all eight Singer employees will join William Blair, said Michelle R. Seitz, head of William Blair Investment Management, in an interview.
Terms of the deal are not being disclosed, Ms. Seitz said in an e-mail.
Singer managed $209 million for eight clients as of March 28, according to its ADV filing with the SEC. Ms. Seitz said all clients have agreed to move with the Singer team.
Brian D. Singer, chief investment officer of the eponymous firm, founded Singer Partners in 2009, two years after he left UBS Global Asset Management, where he served as Americas CIO and head of global investment solutions. He will assume the title of head of global macro strategies at William Blair, said Tony Zimmer, a William Blair spokesman.
Also joining William Blair are Singer investment team members Thomas Clarke, a currency strategist; Edwin M. Denson, a market strategist; and Edouard Senechal and Renato Staub, both macro investment and risk specialists. Their titles at William Blair have not been determined, Mr. Zimmer said.
Three Singer client relations and operations employees also will move to William Blair.
“The Singer Partners' team is very experienced with a strong partnership culture. That makes them a good fit with William Blair Investment Management. We're very excited about the addition of the team, especially since it gives us access to a strong hedge fund global macro strategy,” Ms. Seitz said in the interview.
“Post-crisis in 2008, it was much harder for investment boutiques to make a go of it on their own. In William Blair, the Singer Partners' team will find an investment-centric culture and the strong distribution system of a company that's 72 years old,” Ms. Seitz added.
William Blair Investment Management managed $46 billion as of March 31.