Fortitude Capital and Aurora Funds have reached an agreement to merge subject to a successful Aurora Funds initial public offering.
The proposed merger would see the creation of a fund manager with $570 million under management. Fortitude founder John Corr is set to take on the role of chief investment officer should the merger be successful.
Corr said the merger would provide greater support for its asset managers through being part of a larger organisation.
“It will also strengthen other important areas such as distribution and our profile with retail investors,” he added.
Aurora head of institutional business Alastair Davidson said the merger would create an extremely well resourced and strong fund manager operation.
