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 research house has joined this year’s awards as a research partner and will bring its experience to the awards by selecting the group award finalists.
Global research consultancy CoreData has appointed Angus Dennis from Australian Ethical Investment as it expands its research into responsible and ethical investment.
Allianz Retire+ has appointed Brendon Rodda from PIMCO as chief distribution officer for wealth management.
Following the sale of its platform business to Praemium, Iress has made a second disposal as it moves to streamline operations.