Business
Team Acquisition
Team Acquisition.
About this update from Polar Capital Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 8371C Polar Capital Holdings PLC 13 February 2020 \n\n13 February 2020 \n \n \nPolar Capital Holdings plc\nto acquire International and World equity strategies \n \n \nPolar Capital Holdings plc (\"Polar Capital\") announces it has reached agreement to acquire from Los Angeles based asset manager First Pacific Advisors, LP (\"FPA\") its International Value and World Value equity team led by Pierre Py and Greg Herr (\"the Managers\").\n \nPolar Capital and the Managers share common philosophies, being specialist, investment-led active fund managers. Polar Capital offers the team a platform from which together they can build a significant US based international and global equity franchise. \n \nPolar Capital will provide global operational support and distribution capabilities in multiple jurisdictions to support the strategies' growth while allowing the Managers to continue to focus on seeking to deliver exceptional returns to their clients. \n \nPolar Capital has made known its desire to build upon its strong UK and European wholesale franchises by attracting specialist active investment strategies that manage products suitable for institutional investors particularly, but not exclusively, in North America. The arrival of Jorry Nøddekær and his Emerging Market team in 2018 is evidence of this strategic intent.\n \nThe arrival of Pierre, Greg and their team is a natural extension of this strategy and delivers Managers with excellent track records and existing client relationships into an asset class that is complementary to the existing strategies managed by Polar Capital.\n \nThe team will establish a joint venture with Polar Capital, to be named Phaeacian Partners, with separate branding but with economics consistent with the other investment teams at Polar Capital.\n \nAs at 31 December 2019, the Managers managed approximately $1bn of assets in three pooled vehicles and three institutional segregated accounts. The FPA Paramount Fund, Inc. and FPA International Value Fund (each, an \"FPA Fund\"), have delivered top quartile performance in their respective Morningstar mutual fund categories over 3 years, and each has a four-star Morningstar rating.\n&...