Real asset investment firm Hunt Capital has purchased Peak 8 Asset Management, a Connecticut-based firm that specialises in alternative fixed income investments.
Financial terms of the deal were not divulged.
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Peak 8 tends to institutional clients. It oversaw around $600m in assets at the end of December 2018.
Among the firm’s employees are portfolio managers, underwriters, legal and quantitative professionals.
Each of these employees is said to have an experience of around two decades in the industry.
Besides, the investment team of the acquired firm is said to have a record of deploying capital of over $4bn in 15 years.
Commenting on the takeover, Hunt Capital CEO Chris Hunt said: “This acquisition was good for Hunt, as we and Peak 8 have similar investment styles and approaches to risk.
“This transaction further advances our long-term strategy of growing our fixed income and related businesses, particularly in the insurance space, a sector in which the Peak 8 professionals have deep experience.”
Investment professionals of the acquired entity will be retained.
This includes Peak 8 president David Moran.
“We think that Peak 8 will compliment Hunt’s existing asset management platform and that together we will utilise our shared resources and investment styles to grow both of our businesses,” Moran noted.
