Sun, May 28, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Mariner Investment Group announces merger with Concordia Advisors

Tuesday, January 15, 2013
Opalesque Industry Update: Mariner Investment Group today announced that it is entering into a merger agreement with Concordia Advisors, an alternative asset manager with offices in New York City and London. Concordia, founded in 1993, currently manages several commingled funds and separate accounts with a focus on relative value trading in the rates, credit, and equity markets. The firm manages $1 billion of client assets and employs 18 investment professionals.

Mariner’s infrastructure and business operations will absorb all of the business operations of the Concordia business following the merger. The teams will work together to ensure an orderly transition, so that going forward, Mariner will provide information technology, risk management, back office (including trade processing and settlement), marketing, investor relations, legal, compliance and other business services to the Concordia funds in the same way that it manages its current funds and separate client accounts.

Following the merger, Concordia’s investment teams and selected support staff will join Mariner’s registered investment adviser starting early in 2013. Specifically, Concordia’s portfolio managers Arun Puri, John Eckert (G10 Rates); James Wise and Chris Dillon (Municipals); and Jason Cheung (Equities), will continue to manage their respective funds under the Mariner brand.

Basil Williams, Concordia’s CEO and portfolio manager of its multi-strategy mandates, will become Mariner’s Deputy Chief Investment Officer and will serve on Mariner’s Investment Committee and Management Committee. He will continue to manage the multi-strategy mandates of Concordia, and will participate in Mariner’s investment activities as well, working closely with Mariner’s founder and CIO, William J. Michaelcheck. Mr. Williams has more than 20 years’ experience successfully managing fixed income-related trading portfolios. He began his career with Merrill Lynch & Co. in 1980, where he was responsible for the development of its New York sales trading teams in fixed income futures and options. In 1988, he joined Barclay Investments, a broker dealer, which provided quantitative analysis of global fixed income markets. In 1994, Mr. Williams became affiliated with Concordia as head of its fixed income trading group, and in 2006 was appointed Concordia’s CEO. Mr. Williams holds an MBA in Finance from New York University and a BA in Applied Mathematics from Brown University.

“Basil is a consummate investment professional who understands the opportunities and risks that alternative asset managers face in a variety of market environments. Basil and the Concordia portfolio trading teams are a welcome addition to Mariner’s business. The synergy of our views and experience will enhance Mariner’s skilled team of investment professionals and offer our clients additional resources and investment opportunities,” commented Bracebridge Young, Mariner’s Chief Executive Officer.

“Becoming part of the Mariner organization enables our portfolio teams to focus on delivering the desired investment results for our clients while benefiting from infrastructure efficiencies that a larger institutional quality firm can provide,” said Williams.

Valores Capital Partners served as exclusive financial advisor to Concordia in the transaction.

Mariner Investment

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Soon hedge fund investors won't bet on a man, they will bet on a machine[more]

    From Forexlive.com: The Wall Street Journal is in the midst of a 17-part series that looks at the rise of quant funds. The AUM and money invested in quant funds still trails traditional asset managers but the gap is closing. What's truly amazing is volume. Quant funds make up 27% of trading vo

  2. Investing - China's HNA wants to invest in Value Partners, Risk parity investors reap rewards from rebalancing act, SoftBank's $100 billion tech fund rankles VCs as valuations soar[more]

    China's HNA wants to invest in Value Partners From Reuters.com: HNA Group has alighted on a logical, if pricey, target in Hong Kong. The deal-hungry Chinese travel conglomerate known for overpaying wants to invest in Value Partners, one of Asia's few sizeable independent asset managers,

  3. Opalesque Exclusive: Investors warm to ESG, but seek standardization[more]

    Bailey McCann, Opalesque New York: Asset managers and asset owners plan to double their investment in Environmental, Social and Governance (ESG) driven strategies over the next two years, according to a survey from BNP Paribas Securities Services. The report, "Great Expectations: ESG - what's nex

  4. Opalesque Roundtable: France's hidden strengths in AI and machine learning[more]

    Komfie Manalo, Opalesque Asia: All nations offer their strengths and weaknesses, but one that is undisputed is the quality of the French scientists, claimed Guillaume Vidal, co-founder of French technology startup Walnut Algorithms at the

  5. AI-based hedge fund brings machine learning investing to masses[more]

    Komfie Manalo, Opalesque Asia: Machine learning-based hedge fund firm Greyfeather Capital is trying to bring artificial intelligence investing to the masses with its plan to expand beyond the limited reach of the alternative investments space. "We're excited to bring AI technology to traditio