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Alternative Market Briefing

French investment groups create European leader in incubation of active funds, NewAlpha AM

Thursday, November 07, 2013

Benedicte Gravrand, Opalesque Geneva for New Managers:

Opalesque wrote in April that there may be a merger between two large French seeding platforms: NewAlpha, which has been seeding alternative fund managers for seven years, and NExT AM, a business specialized in seeding emerging long-only managers.

This possible merger was being discussed by OFI AM, an investment group with €54.5bn ($73.6bn) in AuM, of which NewAlpha is a fully-owned subsidiary, and La Française, an investment group with €37bn ($50bn) in AuM, of which NExT AM is a fully-owned subsidiary.

La Française and OFI AM confirmed their partnership last month. Their partnership creates a new European leader in the fund incubation business. According to a joint annoucement, it gathers: - 49 realised investments, - €1.3m of committed seed money, - 26 active partnerships, - €6.2m of assets managed by 260 associates at partner managers.

La Française and NExT AM own 40% and OFI AM and NewAlpha Advisers own 25% of a newly created entity called NewAlpha Asset Management. A further new entity called NewAlpha......................

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