Singapore-based independent asset managers Eightstone and Oclaner Asset Management have merged through an all-stock transaction.
The two companies have a combined 15-year track record and S$1.5bn ($1.1bn) in assets under supervision, and will continue to serve institutional families, institutional investors and high-net-worth individuals, the announcement said.
Eightstone Oclaner will be headed by Cyril Malapert, who takes on the role of CEO. Malapert was the co-founder of Eightstone.
Combining our skills translates into greater intellectual firepower and greater diversity of skills"
Meanwhile, Ivo Bartoletti, the founder of Oclaner, will be the vice-chairman of the company's board of directors.
"Our companies are similar in their business model and client base, yet have multiple areas of synergies that go beyond economies of scale. Combining our skills translates into greater intellectual firepower and greater diversity of skills," Oclaner founderIvo Bartoletti said about the merger.
Eightstone Oclaner holds a capital markets services licence for fund management, which is issued by the Monetary Authority of Singapore.
The firm's investment team will be led by co-chief investment officers Sylvain Baude and Oliver Destandau.