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Alternative Market Briefing

Update: Rothschild Gestion merges with HDF, another Parisian fund of funds house
Friday, May 04, 2012

Benedicte Gravrand, Opalesque Geneva:

A day after announcing that Paris-based fund of funds (FoF) manager Rothschild & Cie Gestion would acquire a fund management company in the near future, we learn about a merger between the firm and HDF Finance, another French FoF house.

According to a joint press release, Rothschild and HDF have consolidated to become "Rothschild HDF Investment Solutions" (subject to regulatory approval). 67% (two thirds) of this new entity will be Rothschild & Cie’s and 33% (one third) of it will be HDF’s. Rothschild will have the option to increase its stake to 100% until 2016. The new entity will manage around Eur4bn ($3bn) in total.

Rothschild & Cie Gestion, the asset management arm of Rothschild & Cie Banque, has around Eur20bn ($15.2bn) in assets under management (AuM). The multi-manager unit - the one merging with HDF - has around Eur3bn in AuM.

HDF Finance is a Paris-based independent asset management company. It was founded in 1986 and specialises in multi-manager investing, having launched France’s first fund of alternative funds in 1989. It currently manages around Eur1bn ($760m) in seven absolute return FoFs and three equity UCITS funds. All have had flat to slightly negative per......................

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