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Peregrine asset management unit buys 50% of South African fixed income hedge fund firm Green Oak Capital

Monday, April 12, 2010
Opalesque Industry Updates - Peregrine Financial Services Holdings Ltd, a leading provider of wealth and asset management solutions, today announced the purchase of 50% of Green Oak Capital, a fixed income hedge fund management company, as of 1 April 2010.

Green Oak founders, Willie Viljoen and Rean Smit, set up the hedge fund management company within Rand Merchant Bank (“RMB”) in 2007. This Stellenbosch based fixed income manager has established a very successful track record and currently runs two strategies, Green Oak Fixed Income and the more aggressive Go Green Fixed Income strategy.

The Green Oak investment team has on average over 18 years investment management experience. Before setting up the hedge fund business, Willie and Rean managed an internal fixed income portfolio at RMB. Prior to that, Willie established the treasury operation at Coronation Capital while Rean was Group Treasurer at the Cadiz Group.

“We are very excited to be partnering with Peregrine. While the Green Oak team focuses on its passion of generating returns for our investors from the fixed income markets, being part of the Peregrine Group will allow us to leverage off Peregrine’s depth and experience in the local and global hedge fund industry. This means the highest level of quality in terms of operations and corporate governance, while providing access to the global investor base.” says Willie.

Leila Kuhlenthal, Head of Business Development at Peregrine, added “Green Oak is one of South Africa’s most experienced fixed income hedge fund managers. We are delighted to be able to count the investment skills of this team as part of our business. I am confident that they will complement the existing high-calibre suite of hedge funds on the Peregrine platform”.

Jan van Niekerk, Deputy-CEO of Peregrine concluded “We welcome Green Oak Capital to the Peregrine Group. We respect Willie and Rean as investors in the fixed income market. We believe that the addition of the Green Oak Capital team to Peregrine entrenches our very strong position in the local and offshore hedge fund space”.

Corporate website: Source

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