RHJ International has agreed with KBC Asset Management to buy KBC Asset Management Dublin for a total upfront cash consideration of EUR23.7m, subject to closing adjustments. The seller will also receive 50 per cent, with a maximum of EUR3.5m, of a potential future capital reduction at KBC Asset Management Dublin. KBC Asset Management Dublin is an asset management firm which manages approximately EUR4bn of discretionary assets for institutional clients. It offers equity products in three core areas: environmental equities, dividend oriented equities and multi assets strategies.
On 23 June 2010, In Alternative Investments, By staff
On 11 June 2010, In Alternative Investments, Job & Careers, By staff
Dechert plans to open an office in Dublin, making it one of a handful of international law firms to establish a presence in Ireland and the first major onshore transatlantic funds practice to do so in Dublin. The office will concentrate on advising investment funds, their investment managers and other fund service providers.Ireland has become a major centre for investment funds because of favourable tax treatment, regulatory structures, expertise of local service providers and appeal to investors concerned about sound regulatory oversight.
On 7 June 2010, In Alternative Investments, Job & Careers, By staff
Swiss investment firm Helvetia Wealth has expanded its Irish presence with the acquisition of Dublin-based Mercury Wealth Management. Mercury specialises in capital-secure investments; its 2,000 customers include private individuals, companies, pension funds, credit unions and charities. Helvetia said the deal would add 70 million Swiss francs (€50 million) to its assets under management. Mercury was founded in 2004 by Gareth Fahey, who worked previously with Liberty Asset Management and Standard Life Investments. Mr Fahey is the sole beneficiary of the purchase price, which was not disclosed. The deal is Helvetia’s second Irish purchase within a month, following the acquisition of JD Murphy Investment Life Pension Benefits in Kilkenny.
On 24 March 2010, In Alternative Investments, Family Office and Wealth Management, Hedge Funds, Private Equity, By staff
Skandia Investment Group is launching an investment grade corporate bond fund to augment its Dublin-based range of single manager funds. The fund intends to take advantage of the opportunities created by historically wide investment grade spreads.
State Street has opened its new Irish headquarters in Dublin. Within the end of this year, the new 165,000 square foot building, based at 78 Sir John Rogerson’s Quay, will receive more than 1,100 State Street employees across its global services and alternative investment solutions businesses.
On 1 March 2010, In Alternative Investments, FOREX, CFD, and Financial Spreadbetting, Family Office and Wealth Management, Hedge Funds, Philantropy, Private Equity, By staff
Insynergy Investment Management has joined the India’s largest asset management company, Reliance Capital Asset Management, in order to launch its Absolute India Fund.
The Absolute India Fund, that will be launched in mid-April, is a Dublin-domiciled Ucits III providing GBP and USD classes.
