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Alternative Market Briefing

Swiss boutique Progressive Capital Partners snaps up Vontobel hedge fund arm

Monday, November 11, 2019

Laxman Pai, Opalesque Asia:

Progressive Capital Partners, a Swiss investment boutique specialized in niche alternatives and managed futures strategies, has agreed to acquire Vontobel Asset Management's hedge fund arm.

Financial details of the deal weren't disclosed by either party. Non-disclosure of further transaction details has been agreed upon.

Further to an existing mandate and a fund solution, Alternative Fund Solutions unit's current team of four specialists will be joining Progressive Capital.

More than 80% of the assets under management within this unit originate from pension funds. The team of experienced alternative investment specialists has been developing investment solutions for institutional clients such as pension funds, insurance companies, trusts, and family offices for years.

Ilario Scasascia will head the Customized Solutions units, which will commence its business on 1st December 2019.

Thomas Kummer, CEO Progressive Capital, said, "Progressive Capital has strategically positioned itself over the past years to service the needs of institutional investors. Thus, the opportunity to acquire the "Alternative Fund Solutions" business from Vontobel Asset Management came at an ideal point in time.

Kummer added: "This transaction allows us to further expand our services to institutional clients. We are proud to be entrusted with another substantial pension fund mandate and are looking forward to welcoming the team in our offices ......................

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