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Money Management

Peak 8 Asset Management acquired by Hunt Capital

Updated with correction

Alternative credit manager Peak 8 Asset Management was acquired by Hunt Capital Holdings.

Peak 8 Asset Management will continue to operate independently under its own name from its headquarters in Greenwich, Conn., and will retain all of its employees, said David Moran, Peak 8's CEO and chief investment officer.

Financial terms of the Feb. 1 deal are not being disclosed, said Brent Feigenbaum, managing director of marketing communication for Hunt Real Estate Capital.

"This acquisition was good for Hunt as we and Peak 8 have similar investment styles and approaches to risk," said Chris Hunt, CEO of Hunt Capital Holdings, in a news release. "This transaction further advances our long-term strategy of growing our fixed income and related businesses, particularly in the insurance space, a sector in which Peak 8 professionals have deep experience."

Peak 8 manages $600 million in alternative credit, primarily for insurance companies, and Hunt Capital Holdings manages $3.7 billion in real estate for institutional investors through Hunt Investment Management.