Cantor Fitzgerald Asset Management acquired fixed-income absolute-return hedge fund-of-funds manager Fintan Partners, according to Dave Goldfarb, senior managing director of Cantor Fitzgerald.
Terms of the deal, which closed in February, were not disclosed.
Cantor Fitzgerald is currently in “growth mode,” Mr. Goldfarb said in a phone interview, and is looking to use this acquisition of Fintan to expand the firm's money management platform. Through this acquisition of Fintan, assets under management and advisement are about $3 billion across Cantor's investment management platforms.
The Fintan team “will continue to operate as they have operated historically” out of its San Francisco office, Mr. Goldfarb added. Fintan also will keep its name.
Cantor Fitzgerald Asset Management will also continue to look for other firms to add to its platform over the next year, Mr. Goldfarb said.