Gottex Targets $6.5B Boost to Its Assets
Gottex Fund Management Holdings, a Swiss-based hedge fund group, is planning a $6.5 billion boost to its assets, around half of which will come from acquisitions in Asia and the United States.
Speaking
to Reuters as the firm completes its acquisition of peer EIM Group,
Chief Executive Joachim Gottschalk said he expects to announce a new
deal in Asia within six months.
"It's
the U.S. and China where we are looking for further acquisitions and
further development on the organic and non organic front," he said.
"Within the next 6 months you will certainly hear something about our
Asian expansion."
The
merger with EIM, which is still pending regulatory approval, brings
total assets to around $8.5 billion which Gottex hopes to grow to $15
billion within five years.
Since
the financial crisis, more onerous regulation has driven up operating
costs for investment managers, while large institutional investors often
rule out allocating any hedge fund money to firms with less than $10
billion under management.
Source: Reuters
