Fidante purchases stake in event-driven hedge fund

clock • 2 min read

Sydney-headquartered investment company Fidante Partners has acquired a minority stake in event-driven boutique Latigo Partners.

Neither the amount of capital purchased by Fidante nor the financial details of the transaction have been disclosed.

As part of the deal, the Life division of Fidante’s parent company, Challenger Limited, has made an investment in Latigo’s funds.

Established in 2005 by David Ford and David Sabath, New York-based Latigo runs strategies in the areas of distressed securities, special situations and long/short credit and equity.

By entering Latigo’s capital, Fidante will expand its alternative offering while its distribution and business development skills will support Latigo in reaching institutional investors including sovereign wealth funds, national pensions and superannuation funds.

Cathy Hales, global head, Fidante Partners, commented: “Latigo’s event-driven investment strategy is highly relevant in today’s investment climate. We are excited by the opportunity to partner with a high-quality team and bring their active investment management skills to the attention of institutional investors in the UK and Europe, in addition to other key markets such as Australia and Japan.

“We believe we have found in Latigo a very positive business culture fit with the Fidante team. We admire Latigo’s focus on delivering investment results to their clients and their passion for their investment craft.

“This investment and partnership with Latigo is part of Fidante Partners’ global growth plans. We are always striving to offer our clients access to innovative strategies from best of breed boutique managers around the world.”

David Ford, co-founder of Latigo, added: “This strategic partnership with Fidante and long-term investment from Challenger allow us to better focus on what we do best – identifying needle-in-a-haystack investment opportunities. Additionally, access to Fidante’s distribution and business development capabilities will help expand our reach to a global base of investors.”

As of end of December 2017,  Fidante had A$56bn (€35.6bn) in assets under management.