ZURICH, (Reuters) – Swiss asset manager Gottex Fund Management Holding (GFMN.S) said on Wednesday it would integrate three funds of hedge funds into its product range to broaden its offering in the U.S. onshore market and the offshore sector.
From February 2010 Gottex will take over the management of the funds from Constellar Capital LLC. The funds, Constellar Gemini Partners, Constellar Gemini Offshore and Constellar Asia, have total assets of $150 million and invest in a diversified range of hedge fund strategies.
“This arrangement will allow us to expand our product range for the U.S. onshore market,” Gottex spokesman Andre Keijsers told Reuters.
“Gottex is taking over the investment management agreements, not acquiring the investment management company,” added Keijsers, without disclosing the financial terms of the deal.
Constellar chief executive Ted Wong, who has previously held senior positions at Credit Suisse (CSGN.VX), Goldman Sachs (GS.N) and famed hedge fund group Tiger Management, will join Gottex as portfolio manager of the funds.
