23 May 2011
Saguenay Capital and Strathmore Capital are to merge to create Saguenay Strathmore Capital, a global alternative investment manager focused on customised fund of hedge fund portfolios with $2 billion in combined assets under management and advice. The deal is the latest in a stream of mergers as funds of funds seek merger partners to gain scale and renew their pitch to investors.
Saguenay Capital, based in New York, was established in 2002 by Brian Walsh and David Dobell to manage bespoke alternative portfolios for a client base of international institutions and family offices. Its investment team has worked together for over 20 years at Saguenay and prior financial institutions.
Strathmore Capital, based in London, was founded in 2003 by Stephen Harper to provide alternative investment advice and portfolio management to large institutional investors. Since inception, Strathmore has worked in partnership with its clients to develop a highly transparent investment process and bespoke reporting.
The combination of Saguenay’s extensive US manager coverage and Strathmore’s European manager research will extend the reach of the merged group. In addition, Saguenay’s team of senior fund managers, with its successful track record and experience in managing customised global hedge fund portfolios, complements Strathmore’s rigorous investment processes, deep operational due diligence and risk analytics platform developed for some of the world’s most sophisticated investors.
The SSC management team will reunite former senior Bankers Trust executives who share a long history of working together in banking and asset management. Brian Walsh, former co-Head of the Global Investment Bank at Bankers Trust becomes Chairman and Chief Investment Officer and Stephen Harper, former Bankers Trust Senior Managing Director, becomes Chief Executive Officer. David Dobell and John Murphy, who become co-Heads of Research, are also ex-Bankers Trust executives. Emlyn Palmer becomes Chief Operating Officer of SSC.
Saguenay Capital, based in New York, was established in 2002 by Brian Walsh and David Dobell to manage bespoke alternative portfolios for a client base of international institutions and family offices. Its investment team has worked together for over 20 years at Saguenay and prior financial institutions.
Strathmore Capital, based in London, was founded in 2003 by Stephen Harper to provide alternative investment advice and portfolio management to large institutional investors. Since inception, Strathmore has worked in partnership with its clients to develop a highly transparent investment process and bespoke reporting.
“There is a strong common purpose inherent in our two businesses, making the strategic rationale straightforward,” Brian Walsh, Chairman and Chief Investment Officer, said. “Ultimately, we share the same values, ambition and vision for the combined group in building a dynamic alternative investment manager focused on superior risk-adjusted returns for our clients.”
The combination of Saguenay’s extensive US manager coverage and Strathmore’s European manager research will extend the reach of the merged group. In addition, Saguenay’s team of senior fund managers, with its successful track record and experience in managing customised global hedge fund portfolios, complements Strathmore’s rigorous investment processes, deep operational due diligence and risk analytics platform developed for some of the world’s most sophisticated investors.
The SSC management team will reunite former senior Bankers Trust executives who share a long history of working together in banking and asset management. Brian Walsh, former co-Head of the Global Investment Bank at Bankers Trust becomes Chairman and Chief Investment Officer and Stephen Harper, former Bankers Trust Senior Managing Director, becomes Chief Executive Officer. David Dobell and John Murphy, who become co-Heads of Research, are also ex-Bankers Trust executives. Emlyn Palmer becomes Chief Operating Officer of SSC.
“This is a growth merger where the synergies of combining deep market experience with institutional processes strengthen the value proposition for all our clients,” Harper said.Regulatory approvals are expected in July. The new firm will have offices in New York, London and Toronto.
