Natixis closes hedge fund fof boutique

Natixis Global Asset Management is to close its Chicago based hedge fund multimanagement boutique Aurora Investment Management, according to various trading press sources including Bloomberg and Reuters.

At the beginning of March, Natixis agreed to sell Aurora to 50 South Capital Advisors, an alternative asset management firm owned by Northern Trust Corporation.

The deal was expected to close in the third quarter of 2016 and bring 50 South Capital’s total global alternatives platform to manage and advise approximately $9bn (€8.3bn).

However, the merger finally failed. On 18 April, a public statement by 50 South Capital explained that “after careful consideration, the parties have mutually agreed to terminate the agreement.”

In an another statement, Natixis’ spokesman Ted Meyer said that “after considering a range of strategic alternatives, we have determined the best course of action to ensure fair and equitable treatment for Aurora’s investors is to return their capital”.

As of 31 March 2016, Aurora, which was founded in 1988, had around $5bn (€4.4bn) in assets under management.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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