Funds of Hedge Funds Mergers & Acquisitions / Joint Ventures

Crestline to buy Northwater fund of funds assets


Crestline Investors plans to buy certain assets related to Northwater Capital Management's hedge fund of funds and beta overlay investment management businesses.

Crestline will establish an affiliate office in Toronto to serve existing and acquired Canadian client accounts and build additional relationships within the Canadian investment community.  Paul Robson, former president of Northwater, will lead Crestline's Canadian business efforts as president of Crestline Canada.

The acquisition increases Crestline's assets to $5.8 billion.  The acquisition includes $683 million of fund of funds assets bringing Crestline's total to $4.3 billion plus $1.5 billion of Northwater client beta overlay investment management business.