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Laxman Pai, Opalesque Asia: The global alternative investment manager Ares Management Corp announced its agreement to acquire a minority equity stake in BlueCove Limited, the London-based institutional scientific fixed income manager.
According to a joint press release, Ares holds the option to acquire control of the business over a multi-year term. Terms of the transaction were not disclosed.
BlueCove has been purpose-built to play a leading role in the development of scientific fixed-income asset management as a mainstream investment style.
According to the release, scientific investing provides investors with both a complement and an alternative to the traditional, active discretionary investment process that has dominated active fixed-income management for decades.
"Potential advantages for investors include an increased probability of repeatable outcomes, a technology-enabled increase in investment breadth, increased investment process transparency, excess returns that tend to exhibit a low correlation with those of discretionary managers, and a medium-term opportunity to harvest natural alpha from an underrepresented investment methodology," it explained.
Alex Khein, CEO and Co-founder at BlueCove, said: "We are delighted to announce this strategic partnership with Ares, a market-leading alternative management firm. We believe that over the last decade, the supply of data, increased market breadth, globalization of fixed-income markets, and signifi...................... To view our full article Click here
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