SWITZERLAND - Swiss Life Hedge Fund Partners, a unit of insurers Swiss Life/Rentenanstalt, is to be absorbed into alternative asset managers, RMF Investment Group (RMF).
The subsidiary is a joint venture with RMF and Swiss Life. The terms of the deal were not disclosed.
It is hoped that the restructuring will ensure a simplification of structures and lead to increased efficiency in market development, according to Swiss Life.
Over CHF5bn in hedge funds and leverage finance assets will be transfered over to RMF, bringing new total assets under management to around CHF20bn.
Staff of Swiss Life Hedge Fund Partners will be given opportunities to work for one of the corresponding teams at RMF.
Swiss Life/Rentenanstalt's 23.5% stake in Pfäffikon-based RMF will not be affected the move.
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