Two boutique asset managers have merged to expand their funds businesses in the UK and Europe.
Geneva-based Quaero Capital and London-based Tiburon Partners will form a single business under the Quareo Capital brand with over $2.3 billion (€1.9 billion) in assets under management.
Quaero sells Luxembourg, Swiss and French-regulated funds, while Tiburon Partners is a UK-regulated value manager offering Japanese and Asian equities.
A spokesman said the merger will extend Quareo’s footprint more firmly into London and also enable Tiburon’s funds to be sold more broadly in Europe.
Jean Keller, chief executive of Quaero Capital, said the firms’ skills and expertise were complementary.
Quaero is a 100% employee-owned active manager while Tiburon is owned by its senior management. However, the combined business will remain completely employee-owned and will focus on concentrated, actively managed value strategies.
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