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Kirsten Bischoff, Opalesque New York: Further evidence of the growing number of alternative asset mergers and acquisitions occurring (Jeffries Putnam Lovell reported this week that 37% of all deals in the global investment management business the first 6 months of 2008 have been with alternative investment firms), Rosemont Investment Partners and Riverview Alternative Investment Advisors announced their partnership in purchasing the majority stake in Riverview which was previously held by Nationwide Mutual Insurance.

Riverview, which manages $1.5bln over market neutral and directional hedge fund strategies was sold to Nationwide’s subsidiary Gartmore in 2002. The buyback may mark the end of the partnership with Nationwide, however not the relationship, as the insurance company will remain a substantial investor in the funds.

The partnership marks Rosemont’s 15th asset management investment and its first investment in the alternative asset arena. “Most of our deals are driven by people. We have a focus on asset management and because it is such a people driven industry, where the main asset of the firm is the team that is what is key for us.” Genie Logue, Principal at Rosemont told Opalesque. While previously Rosemont has looked at other investments within the alternative space and they continue to look at various traditional and specialist hedge funds and fund of funds, the driving strategy behind their investme......................

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