Blue Sky acquires hedge fund
Brisbane-based Blue Sky Alternative Investments has acquired another hedge fund manager, Investment Science Pty Ltd (ISPL).
The company announced to the Australian Securities Exchange (ASX) that it was acquiring ISPL via a transaction involving 100 per cent Blue Sky scrip including upfront and deferred consideration components.
The ASX announcement said ISPL had around $70 million in assets under management and that the acquisition was consistent with Blue Sky's strategy of maintaining a broad offering across a number of alternative asset classes, including hedge funds.
It said the ISPL team had a strong track record and would continue to manage the ISPL funds post acquisition.
The transaction is subject to shareholder approval.
Recommended for you
The RBA assistant governor (business services) is set to speak at the Women in Finance Summit 2025, taking place this November.
Momentum Media’s wealth publishing network is pleased to announce the launch of the annual Australian Wealth Management Summit 2025.
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
