Fri, Apr 25, 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. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  2. Regulatory – Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades, Alternative funds to get SEC test for leverage, liquidity[more]

    Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades From Thelawyer.com: A recent Wall Street Journal article — ‘Activist investors often leak their plans to a favoured few’ — focused attention on ‘activist’ investors and stock analy

  3. …And Finally – This week's least competent criminal is Austrian[more]

    From ABCnews.go.com: A German sought by authorities for alleged fraud has been arrested in Austria — after dropping into a police station to ask officers whether he was under investigation. Police in Salzburg said the 59-year-old man walked into a police station in the city on Friday night. Sp

  4. Investing – Hedge funds find pitfalls along with profits in real estate ventures, Marcato Capital Management makes new bet on Dillard’s[more]

    Hedge funds find pitfalls along with profits in real estate ventures From Law360.com: Hedge funds have joined the rush to real estate deals and development in recent months to close the financing gap left by tightening bank standards, but attorneys say many aren't prepared for the disclo

  5. Agecroft Partners estimates 90% of hedge funds using social media[more]

    The use of social media has increased significantly within the hedge fund industry over the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance