WHITE PLAINS, N.Y. (HedgeWorld.com)–In a bid to expand its funds of funds reach in the U.S. market, Rotterdam, Netherlands-based Robeco Monday announced plans to acquire Sage Capital Management LLC. Terms of the deal were not disclosed.
The nine-year-old funds of funds shop manages about US$300 million in two pooled multi-manager funds–one aimed at the high-net-worth market and the other at institutional investors.
No changes are planned for the existing funds, but new multi-manager vehicles may be on the horizon within the next six months, according to Robert Friedman, a partner at Sage.
“The deal made sense for us on a number of levels,” he said. “Years ago, there really were very few long/short equity managers in Europe and the U.K. But that’s changed, and you’ve seen the emergence of a number of European managers in just the last few years,” Mr. Friedman added. “The deal will allow us to build a really global fund of funds business, allowing us to expand.”
Acquiring Sage will also extend Robeco’s reach by giving the 104.5 billion euros asset manager a ready-made doorway to the U.S. funds of funds market. The deal also builds on the firm’s existing alternative investment base, which includes Robeco’s other hedge fund subsidiary Weiss, Peck & Greer.