GAM has entered into a partnership arrangement with Investcorp-Tages which sees the investment team of GAM’s Global Rates strategy moving to IVCT but continuing to manage the strategy for GAM as a delegated investment manager, similar, the firm writes, to other successful relationships GAM has with external managers.
Once the transition is completed, expected in the beginning of 2024, the fund will be co-branded and continue to be distributed by GAM, with IVCT also distributing the fund through its client channels. There will be no impact to GAM clients who will continue to be invested in a fund with a strong track record. The partnership with IVCT will also explore other opportunities for collaboration between GAM and IVCT.
GAM will be launching its Private Shares strategy into the European market and in the UK for Q1 2024. The Private Shares Strategy is a late-stage venture capital strategy, managed by established US private markets group, Liberty Street Advisors. The strategy provides access to a diversified portfolio of leading privately owned companies that are in the final non-public funding rounds. The strategy was recently named emerging fund of the year by Financial Newswire in Australia.
Client engagement regarding the commitment from long-term anchor investor NJJ Holding SAS, the investment holding company of Xavier Niel, has been positive and provides a strong platform for future growth, the firm says.
Elmar Zumbuehl, CEO of GAM says: “I am looking forward to working closely with our new partners at IVCT, and launching the Private Shares strategy in Europe and the UK. I would also like to thank the investment teams for their excellent work and ensuring that there is a seamless transition for clients. We are pleased that clients have responded positively to the commitment from our long-term investor NJJ.”