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Technology > Investment Platforms > Turnkey Asset Management

Asset Alliance Acquires Market-Neutral Fixed-Incom

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NEW YORK (–Asset Alliance Corp. has acquired an interest in Group G Capital Partners LLC and is providing seed capital to the firm.

The amount of funding was not disclosed. San Francisco-based Group G, which specializes in alternative credit strategies and employs a market-neutral fixed-income program, is the fifteenth manager acquisition for the Asset Alliance since it’s founding in 1996.

“Asset Alliance’s innovative platform and global distribution capabilities will help us raise capital and grow the firm while we concentrate on executing our investment strategy,” Geoffrey Gwin, chairman of the management team at Group G, said in a statement.

Mr. Gwin founded Group G, after being a consultant with Zola Capital Management in which Asset Alliance took a stake in early 2001.

Asset Alliance has maintained a stake in all its acquisitions from the beginning. Some of those acquisitions include Bricoleur Capital Management, JMG Capital Management LLC, Wessex Asset Management Ltd., Silverado Capital Management, Alternative Investment Partners, Couchman Capital, Liberty Corner Asset Management, P/E Investments, Trust Advisors LLC, Victory Asset Management and Pacific Asset Management LLC.

The firm also maintains a stake in Beacon Hill Asset Management, a spokesman confirmed. Asset Alliance still has interest in every one of the hedge fund businesses the firm has invested in since the beginning, he added.

Asset Alliance has an arbitration claim pending with Beacon Hill, reportedly saying that Beacon Hill officials concealed losses in order to obtain up to US$26.4 million from Asset Alliance, the maximum amount of purchase price adjustment available based on value of assets under management and performance of such assets. The Securities and Exchange Commission has also filed a lawsuit against Beacon Hill.

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