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East Capital acquires hedge fund firm Adrigo Asset Management

Friday, November 08, 2019

Laxman Pai, Opalesque Asia:

Swedish asset management firm East Capital Holding has agreed to acquire the compatriot hedge fund firm Adrigo Asset Management to strengthen its offering in absolute return and specialized investment strategies.

Stockholm-based Adrigo manages two hedge funds - Adrigo Hedge and Adrigo Small & Midcap L/S - and oversees approximately SEK 1.5 billion ($160 million) in assets under management.

Adrigo will become a platform within the East Capital Group, alongside East Capital, East Capital Real Estate and Espiria.

Adrigo's funds target absolute returns with a low and controlled risk-return profile. The fund managers of Adrigo Small & Mid Cap L/S will remain with the company following the acquisition and East Capital Holding will add new resources to the Adrigo Hedge fund, in consultation with Adrigo's CIO, Staffan Östlin.

Håkan Filipson, Chairman of Adrigo Asset Management, said: "This acquisition ensures investors in Adrigo's funds can look forward to continued opportunities for stable and attractive returns. For Adrigo Small & Midcap L/S, there is continuity with the current management team, while the new resources for Adrigo Hedge will rapidly put it back on course to delivering the strong, low-risk returns that have been a feature since the fund's inception 13 years ago."

Peter Elam Håkansson, Chairman of East Capital Holding, added: "Adrigo Asset Management is a welcome addition to the East Capital Group and brings......................

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