GLOBAL - ABN AMRO has completed the integration of its fund of hedge funds business into International Asset Management (IAM), creating an entity with US$5bn in assets under management.
ABN AMRO announced its intention to purchase the London and New York-based US$2.6bn fund of hedge funds manager IAM back in February.
Following the acquisition and integration, IAM has become a provider of expertise in fund of hedge funds for ABN AMRO Asset Management, responsible for creating and managing bespoke segregated portfolios and proprietary commingled funds.
IAM has retained its investment philosophy, style and process as well as its investment committee, portfolio management committee and senior management. Since the deal, the total number of staff at IAM has risen to a total of 54 full-time employees, with 49 staff based in London and 5 research analysts based in New York.
As part of the integration process, IAM and ABN AMRO Asset Management have streamlined their fund offering to ensure minimum duplication of fund mandates and to optimise the range of funds available. Similarly, the SICAV product range will now broader and covers the full range of fund of hedge fund products from cash enhancement through to equity substitutes.
Alan Djanogly, head of investments, International Asset Management, said: “We’re pleased that the integration has been so successful, which is testament to the suitability of the match."
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