GAM investments announces: new partnership with Investcorp-tages, UK equity income team to transfer JUPITER asset management, private shares strategy to be launched in Europe

21 November 2023

• GAM has entered into a partnership arrangement with Investcorp-Tages (“IVCT”) which sees the investment team of GAM’s Global Rates strategy moving to IVCT but continuing to manage the strategy for GAM as a delegated investment manager, similar to other successful relationships GAM has with external managers. Once the transition is completed, expected in the beginning of 2024, the fund will be co-branded and continue to be distributed by GAM, with IVCT also distributing the fund through its client channels. There will be no impact to GAM clients who will continue to be invested in a fund with a strong track record. The partnership with IVCT will also explore other opportunities for collaboration between GAM and IVCT.
• GAM has entered into definitive agreements with Jupiter Asset Management (“Jupiter”) for the UK Equity Income Fund (the “Fund”) to be transferred to Jupiter along with the two portfolio managers. There will be a seamless transition for clients to enable them to remain invested in the Fund. In early 2024 Jupiter will become the delegated investment manager for approximately six months. Subsequently the fund will transfer to Jupiter and as a result of the agreement to transfer, there will be a 12-month revenue sharing arrangement.

• GAM will be launching its successful Private Shares strategy into the European market and in the UK for Q1 2024. The Private Shares Strategy is a late-stage venture capital strategy, managed by established US private markets group, Liberty Street Advisors. The strategy provides access to a diversified portfolio of leading privately owned companies that are in the final non-public funding rounds. The strategy was recently named emerging fund of the year by Financial Newswire in Australia.

• Client engagement regarding the commitment from long-term anchor investor NJJ Holding SAS, the investment holding company of Xavier Niel, has been positive and provides a strong platform for future growth.

Elmar Zumbuehl, CEO of GAM said: “I am looking forward to working closely with our new partners at IVCT, and launching the Private Shares strategy in Europe and the UK. I would also like to thank the investment teams for their excellent work and ensuring that there is a seamless transition for clients. We are pleased that clients have responded positively to the commitment from our long-term investor NJJ.”

Source: GAM