Mergers & Acquisitions / Joint Ventures

SW1 acquires PCE in order to set up small manager platform

by

SW1 Capital, which was spun out of Crosby Asset Management, is set to buy PCE Investors in order to build its hedge fund capability. At the same time Crosby is understood to be shutting its funds of hedge funds business, which was originally set up under Forsyth Partners, a business that it bought in 2007.

SW1, which is owned by Simon Luhr and Terry Duffy, is building a core hedge fund business that currently has $2 billion in single manager hedge fund assets.

The PCE deal, which will continue to focus on the emerging manager side of the