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DWS sells Ucits hedge fund business

Luxembourg-headquartered alternative specialist Alma Capital plans to use acquisition to expand fund offerings


David Robinson

Germany’s DWS has sold its Ucits hedge fund business to Luxembourg-headquartered Alma Capital Investment Management.

The business focuses on liquid alternative investment strategies and selects third party hedge fund managers to build regulated Ucits funds which it distributes to an institutional client base.

The platform has €2bn AUM across six hedge fund Ucits using a broad range of strategies including alternative credit, event driven, managed futures and global macro. Investors are spread across the UK, Switzerland, Germany, Spain, France, Italy, Asia and the Middle East.

In addition to the single manager strategies, the team also develops and manages multi-manager hedge fund Ucits vehicles partnering with key asset allocators.

DWS is the asset management art of German banking giant Deutsche Bank. DWS’s Alternatives platform overall has €85bn AUM.

In conjunction with the acquisition, Alma Capital Investment Management is announcing a change in its ownership structure with the addition of alternative asset manager EnTrust Global as a 25% minority shareholder.

Henri Vernhes, CEO of Alma Capital, said: “This acquisition represents an important step ahead for us. We look forward to serving our investors with a broader range of funds from the DWS Ucits platform and to developing our business further.”