East Capital Holding acquires award-winning hedge fund manager Adrigo Asset Management
East Capital Holding has agreed to acquire Adrigo Asset Management, the award-winning manager of two hedge funds, to strengthen its offering in absolute return and specialised investment strategies.
Adrigo currently manages approximately SEK 1.5 billion (£120 million) of assets spread across two fund strategies, Adrigo Hedge and Adrigo Small & Mid Cap Long/Short. Adrigo will become a platform within the East Capital Group, alongside East Capital, East Capital Real Estate and Espiria.
Adrigo’s funds target absolute returns with a low and controlled risk-return profile. They have received several awards, with Adrigo Small & Mid Cap L/S most recently named “Best New European Hedge Fund” at the 2019 Eurekahedge Global Hedge Fund Awards.
The fund managers of Adrigo Small & Mid Cap L/S will remain with the company following the acquisition and East Capital Holding will add new resources to the Adrigo Hedge fund, in consultation with Adrigo's CIO, Staffan Östlin.
Håkan Filipson, Chairman of Adrigo Asset Management, said: “This acquisition ensures investors in Adrigo's funds can look forward to continued opportunities for stable and attractive returns. For Adrigo Small & Midcap L/S, there is continuity with the current management team, while the new resources for Adrigo Hedge will rapidly put it back on course to delivering the strong, low-risk returns that have been a feature since the fund’s inception 13 years ago. East Capital has a very established market position and investor base, combined with a clear strategy for the continued development of our funds. We are very pleased to hand over the baton to East Capital Holding, in whose management we have great confidence."
Peter Elam Håkansson, Chairman of East Capital Holding, added: “Adrigo Asset Management is a welcome addition to the East Capital Group and brings absolute return-focused investing to the range of solutions that we offer clients. We see great opportunities arising from the expertise and the funds that are coming over when the management team and brand join us. I also believe that East Capital Group’s experience in institutional management and the additional resources in the investment team can make a major contribution to Adrigo’s development, especially in the areas of sustainability and corporate governance."
About East Capital Holding
East Capital Holding is the holding company of East Capital Group.
East Capital Group is an independent asset management group that comprises several strategies and specialisations to offer active management solutions in equities, bonds and real estate assets. Our managers work within a clear ESG framework, while also drawing on the group's scale and overall strengths. Founded in Sweden in 1997 and with offices in Stockholm, Dubai, Hong Kong, Luxembourg, Moscow, Oslo and Tallinn, East Capital Group manages a total of EUR 4.9 billion for a broad range of international investors including leading institutions, companies and private individuals. East Capital Group also has a significant holding in the listed company Eastnine (OM:EAST), which owns, develops and manages sustainable, premium office space in the Baltic region with a net asset value of approximately EUR 245 million.
Media Contact information:
Simon Packard/Sophia Samaras/Callum Attew
Phone: +44 20 3128 8100
Email: eastcapital@mhpc.com