Martin Currie acquires Sofaer Capital’s $280 million European long/short equity business

June 14th, 2010
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Global investment manager Martin Currie Investment Management recently announced its acquisition of Sofaer Capital European long/short equity business, which manages approximately $280 million in assets. According to a press release, Martin Currie expects to acquire the Sofaer Capital European Hedge Fund on July 1 of this year, at which time the fund’s managing principals Michael Browne and Steve Frost will join Martin Currie as well. Mr. Browne and Mr. Frost “have worked together on European equities for over 20 years and have co-managed the Sofaer Capital European Hedge Fund since 1 January 2001” after both men joined Sofaer Global Research in September 2000. The fund’s investment analyst Charlotte Dagg, who covers consumer companies, will also join Martin Currie later this year.

Sofaer Capital was founded in Hong Kong by Michael Sofaer in 1986, and today the firm “manages over $600 million across six fundamental equity long/short strategies.” Sofaer launched its Asian and Pacific strategies in 1989 and, nine years later in 1998, the Sofaer Capital European Hedge Fund. While Sofaer will maintain a research capability in its London office, the firm will no longer manage European funds following the closing of the transaction.

David Helm, Sofaer’s CEO, commented, “Essentially, the group is reverting to its roots in Hong Kong where Michael Sofaer started managing hedge funds in 1983. The remaining Asian and Global Funds will all be managed and administered from our office in Hong Kong henceforth.”

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Martin Currie Investment Management
Related People: James Fairweather; Tim Hall; Willie Watt
Related Entities: Martin Currie Core; Martin Currie Global Alpha; Martin Currie Global Emerging Markets; Martin Currie Global Resources; Martin Currie UK Active; Martin Currie Ltd
Related Article Tags: Investment Management, Fund Manager and General Financial News; Investment Management and Hedge Fund Firm Mergers, Acquisitions, Spin-offs and Transactions

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