Morgan Creek acquires Alternatives business of Signet Capital Management
Morgan Creek Capital Management has reached an agreement to acquire the Alternative Funds business of Signet Capital Management Ltd, a European-based institutional fixed income investment firm.
Under the agreement, Signet will contribute its funds and senior investment management team to Morgan Creek’s platform, where they will apply their global fixed income experience for the benefit of Morgan Creek clients.
London-based Signet, with some $700m in assets under management in its Alternative Funds businest, was founded by Robert Marquardt in 1993. It also has an office in Lausanne.
The management team at Signet still includes Marquardt, as well as CEO and co-head of Investment Management, Serge Umansky. They will join Morgan Creek and continue their current roles, as well as complementing Morgan Creek’s fixed income capabilities.
Mark Yusko, CIO of Morgan Creek, said the agreement represents a major achievement in the firm’s strategy to expand its global footprint and bring on talented investment professionals in an increasingly complex global investment environment.
The transaction is expected to close in the second quarter and is subject to the required regulatory approvals and other closing conditions. Signet Capital Management, Ltd is authorized and regulated by the Financial Conduct Authority, and the agreement to acquire Signet Capital Management Ltd is subject to the approval of the Financial Conduct Authority.
Morgan Creek Capital Management is a global investment management firm focused on active investment management with a long-term investment philosophy and firmly believes in the Endowment style of investing for helping clients achieve their objectives.
Consistent with the Endowment Model, Morgan Creek maintains exposures across the investment spectrum, from traditional equities and fixed income to alternatives such as hedge funds, private equity real estate and venture capital. The firm was an early pioneer of the “Outsourced Investment Office.”