Wed, Apr 16, 2014
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   |   
Banner
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. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  2. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  3. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo

  4. Opalesque Exclusive: Pensions, endowments, family offices reconsider life settlement investments[more]

    Bailey McCann, Opalesque New York: Hedge funds were once the largest investors in the life settlement industry, now the industry is seeing more interest from pensions, endowments and family offices directly. Life settlements have always been considered a niche part of the investing landscape, an

  5. SEC allows investment funds to use social media[more]

    Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has released new guidance letting investment funds and advisors use social media to promote client reviews. The guidance seeks to assist investment managers in developing compliance policies and procedures reasonably