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Alternative Market Briefing

Mirabaud expands into South America with Galloway acquisition

Thursday, December 20, 2018

B.G., Opalesque Geneva:

Mirabaud Asset Management acquired Galloway Gestora de Recursos Ltda., an investment manager based in Sao Paolo, Brazil, and Galloway Capital Management Ltd on 17 December.

Mirabaud (MAM), which has offices throughout Europe, is the investment arm of the Mirabaud Group, a family-controlled private bank established in 1819 and based in Geneva. MAM manages CHF8bn ($8.05bn) through 29 funds, including four alternative funds, one of which focused on emerging markets. Most of MAM's funds are down YTD, after having made positive returns in 2017. The group manages CHF36bn and does wealth management, asset management and brokerage.

Galloway is an emerging market asset manager focused on active global fixed income high yield strategies founded in 2013. The firm runs the Galloway Emerging Markets High Yield Bond Fund, a long-only fund domiciled in Luxembourg which has returned 68% since its May 2009 inception after having suffered some losses this year. Galloway Capital Management Ltd, the investment manager, is registered in the BVI.

Becoming part of MAM "will enhance our global macro research and operational capabilities," says Galloway in an announcement. The team and the fund management will remain the same.

Mirabaud poached a five-person team from banking group Julius Baer in September, including Fabio Kreplak, from Uruguay and Geronimo Escudero, from Switzerland. Both have been appointed as joint heads to lead Mirabaud's wealt......................

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