Dutch pension giant ABP and State Street Global Alliance have formed new alternative investment advisory company SSARIS Advisors.
SSARIS, based in Stamford, Connecticut, will provide absolute return strategies for institutional and private clients including corporate and government pension funds, banks, insurance companies, domestic and international corporations and non-profit entities.
The firm will manage several proprietary strategies with exposure in liquid, transparent and well-capitalised markets, focussing on hedged equity, hedged fixed income and global macro strategies of the G7 economies. SSARIS will also develop a fund-of-funds capability and expects to incubate new managers.
SSARIS acquired a majority share of $335m quantitative asset management company, RXR Group. State Street Global Alliance, a jointly-owned subsidiary of investment house State Street Global Advisors (SSgA), now has a majority stake in SSARIS. The former management team of RXR owns the remaining shares.
Mark Rosenberg, former chairman and chief investment officer of RXR, will assume the same responsibilities at SSARIS. The other members of the management team are James Tomeo, chief operating officer and senior portfolio manager, and Peter Hinrichs, who joins as chief financial officer.
*SSgA declined to disclose the cost of the deal. ABP was not available for comment during press time.
By Madhu Kalia
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