Equinox Financial unveils Tapestry Asset Management buy.
25 January 2013 a[euro]" US Equinox Financial Group LLC has announced the acquisition of domestic investment advisor Tapestry Asset Management LP, without disclosing the value of the transaction.
The addition of Tapestry, which specialises in the construction, implementation and monitoring of multi-manager hedge fund portfolios and managed futures strategies, positions Equinox for increased growth in the managed futures field, as well as in a wider range of non-traditional asset classes, the buyer's CEO Robert Enck said.
Equinox noted it should benefit from Tapestry's experience in managing large, multi-manager portfolios across the entire spectrum of liquid alternatives as it strives to expand its non-traditional investment range.
Tapestry's chief investment officer Afroz Qadeer will retain the role at the acquired business, whichA will continue to operate under the Equinox brand.Country: USASector: Banking/Financial ServicesTarget: Tapestry Asset Management LPBuyer: Equinox Financial Group LLCType: Corporate acquisitionStatus: Closed