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Boutique managers announce €1.9bn merger

Geneva-based Quaero Capital is to join forces with a London boutique asset manager to create a €1.92bn ($2.3bn) active investment house with a focus on Asia and high-conviction strategies.

merger funds

Quaero, which has €1.16bn ($1.4bn) assets under management (AUM), is merging with London-based Asian fund management specialist, Tiburon Partners, which manages €750m ($900m) of assets.

The deal, which is subject to regulatory approval from the Financial Conduct Authority and the Swiss Financial Market Supervisory Authority (Finma), will see the two firms form a single business under the Quaero Capital brand.

The combined business will be completely employee-owned as per the model of the two firms prior to the tie-up.

Tiburon Partners was established in 2003 as a long-only, stockpicking value manager specialising in Asian and Japanese equities. Quaero Capital is an active manager offering high-conviction strategies through Luxembourg, Swiss and French regulated funds.

Jean Keller, chief executive of Quaero Capital, said: “We are delighted to be joining forces with another excellent value specialist as our skills and expertise are wholly complementary. We are also excited to have a substantial presence in London – one of the key centres for investment talent in the world.”

Rupert Kimber, senior partner at Tiburon Partners, said: “Quaero Capital’s managers think and work like us. They have a similar investment approach based on value orientated, concentrated portfolios. So, naturally, we are keen to partner with a firm which shares our philosophy, and can take our offering more widely around Europe.”

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