Blue Sky acquires hedge fund
Brisbane-based Blue Sky Alternative Investments has acquired another hedge fund manager, Investment Science Pty Ltd (ISPL).
The company announced to the Australian Securities Exchange (ASX) that it was acquiring ISPL via a transaction involving 100 per cent Blue Sky scrip including upfront and deferred consideration components.
The ASX announcement said ISPL had around $70 million in assets under management and that the acquisition was consistent with Blue Sky's strategy of maintaining a broad offering across a number of alternative asset classes, including hedge funds.
It said the ISPL team had a strong track record and would continue to manage the ISPL funds post acquisition.
The transaction is subject to shareholder approval.
Recommended for you
The UK-based global asset manager has formed a new group executive committee to accelerate its growth strategy following the commencement of its new CEO this month.
Momentum Media has announced 26 winners across 10 individual and 15 group categories for its brand-new Australian AI Awards.
The financial services industry is currently “overwhelmed with quality and quantity of candidates”, Kaizen Recruitment explains, leading executives to face 12-month long recruitment processes.
Zenith Investment Partners has appointed an experienced research executive as its new group head of research following the departure of Bronwen Moncrieff.
