Major new French asset management platform Emergence gains pace with second seeding deal
Mon Jul 23, 2012
Backed by the French government and several major investors, the nascent seeding platform has allocated to Bernheim, Dreyfus’ Diva Synergy UCITS – and has more deals in the offing, in both offshore and onshore markets
Emergence, the major new French seeding platform funded by large institutional investors and advised by NewAlpha Asset Management, is making swift progress towards its goal of backing a diversified range of hedge fund strategies.
Just one month after making its first seeding in May – providing capital to the long/short credit strategy managed by Eiffel Investment Group – the platform has invested in a second fund, allocating €30 million to the UCITS version of Diva Synergy, the merger arbitrage and pre-event strategy managed by Paris-based Bernheim, Dreyfus & Co.
The seed investment was made in late June and brings assets in Diva Synergy UCITS to €40 million. The strategy now manages around €200 million in total across the French-domiciled onshore fund, the original offshore flagship and segregated managed accounts.
Meanwhile, Emergence shows no sign of slowing down – with a third hedge fund set to receive seed capital in the next...
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