Merian Global Investors (MGI) has today announced that it has signed an agreement to acquire the top-performing multi-asset business from Kestrel Investment Partners.
As part of the deal, which is expected to complete in December 2019 (subject to regulatory and shareholder approval), the entire Kestrel multi-asset team will join MGI, including head of desk and lead fund manager John Ricciardi. He will report to MGI’s CEO, Mark Gregory. John is joint CEO of Kestrel, a business he co-founded with the partners of Kestrel Partners LLP in 2011. He has over three decades of multi-asset investing experience, including six years as global head of asset allocation for Alliance Bernstein.
Management of the $151 million Kestrel Global Portfolio will transfer to MGI as part of the transaction, as will the associated intellectual property. The fund will adopt the “Merian” naming convention immediately upon completion, with its new name announced in due course. The fund aims to achieve capital growth by directly investing in a diversified portfolio of asset classes across global markets, using a repeatable process of quantitative macro modelling, combined with fund manager expertise. The team has an outstanding long-term track record, with the Kestrel Global Portfolio (I USD) delivering a compound annual return of 6.2%, compared to 2.4% for the peer index since inception.