Reyl & Cie and Samena seal joint venture to expand funds and seeding
Genevan asset manager Reyl & Cie and emerging markets specialist Samena Capital have formed a joint venture to integrate their activities including wealth management, and hedge fund seeding in Asia.
The $4.5bn Reyl Group operates wealth and asset management, and family office services with offices in Switzerland, Paris, Luxembourg and Singapore.
Samena Capital runs over $400m out of London and Hong Kong, making principal investments in the sub-continent, Asia, Middle East and North Africa. In Asia it finances hedge funds through Samena Asia Managers, headquartered in Hong Kong.
It is the second time in a week an asset manager in developed markets has linked with an EM house, as investor appetite for developing markets continues.
Earlier this week, $232bn manager Principal Global Investors announced it would buy a controlling stake in $1.63bn EM fixed income specialist Finisterre Capital, based in London.
Jim McCaughan, Principal’s chief executive, said: “There is already an enormous appetite to invest in emerging economies and we firmly believe the demand will continue as these markets develop.”
Principal said it would be able to launch complementary EM products and strategies, while Finisterre gets access to Principal’s distribution network.
After Samena’s tie-up with Reyl & Cie, Samena will expand its activities to run managed accounts for European investors, HNWIs, family offices and institutional investors in the emerging markets in which it operates.
V-Nee Yeh, Samena Capital chairman, said Reyl & Cie provides Samena extra knowledge of fund management and European distribution.
François Reyl, Reyl & Cie chief executive (pictured), added it also gave Reyl & Cie access to Samena Capital’s investment specialists and network of “leading entrepreneurs in a region, which is strategic for its development”.