<!-- Swiftype Variables -->

Money Management

IM Global buys minority stake in boutique U.S. value equities manager Scharf Investments

IM Global Partner, a global distribution channel for money managers, said Monday it acquired a 40% stake in Scharf Investments, a boutique U.S. value equities manager with $3.4 billion in assets as of March 31.

Through the acquisition, iM Global plans to provide its clients with a wider range of high-alpha investment strategies.

"Our two distribution platforms in the U.S. and in Europe will support (Scharf) to grow in both the U.S. and international markets," said Philippe Couvrecelle, founder and CEO of iM Global Partner, in a news release. "This new deal is the fifth investment we have done in the U.S. with our consistent objective to provide access to unique asset management boutiques across the world."

The four other U.S. money managers in which iM Global also has minority stakes are Dynamic Beta investments, Sirios Capital Management, Polen Capital and Dolan McEniry Capital Management.

An iM Global spokeswoman could not be immediately reached for additional information.

IM Global Partner had $9.6 billion in AUM as of March 31.