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Gottex Announces Acquisition

Mar 20, 2013
Jing Chen

Swiss fund of hedge funds Gottex Fund Management announced Wednesday that it has boosted its multi-asset business with the purchase of an undisclosed majority stake in Frontier Investment Management.

Gottex said in the statement that the acquisition will establish the firm as “one of the leading alternatives oriented multi-asset investment teams,” as it will benefit from access to Frontier’s retail distribution in the U.K.

Under the agreement, Frontier CEO and founder Michael Azlen will be appointed as a senior executive at Gottex, while continuing to lead Frontier. Azlen will also be responsible for expanding Gottex’s European multi-asset business.

The acquisition, which is subject to regulatory approval, involves a combination of Gottex shares—up to .45 million at the current share price—and additional cash payable over a two-year period.

Gottex, which has about $7 billion in AuM, completed its acquisition of Hong Kong-based FoHF Penjing Asset Management last year. Dallas-based Frontier manages approximately $550 million in assets.


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