RWC acquires investment team of multi-strategy firm
Set to join in Q3
RWC Partners has bolstered its offering with the addition of a diversified return team.
The investment team of specialist multi-strategy firm Agilis Investment Management is set to join RWC Partners, subject to regulatory approval.
The agreement will see Agilis founder Clark Fenton, along with colleagues Charles Crowson and Praveen Kanakamedala, join RWC to form the RWC diversified return team.
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The team manages the Protea Fund - Agilis UCITS, a multi-strategy long/short portfolio investing in fixed income, equities and commodities.
As part of the move, the Agilis Luxembourg UCITS fund will become a sub fund of RWC Funds, a Luxembourg-domiciled UCITS umbrella fund.
The newly formed RWC diversified return team will focus on its investment strategy while supporting RWC in broadening its range of clients.
The agreement is expected to close towards the end of Q3.
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Prior to founding Agilis, Fenton was co-CIO at fund of hedge funds Permal Group, while Crowson joined Agilis from hedge fund Mason Capital Management. Kanakamedela, who manages operations, risk and compliance for the firm, joined Agilis from Permal where he was global head of risk management and chair of the risk committee.
Dan Mannix, chief executive at RWC Partners, commented: "Investors need strategies that diversify their risk away from core equity and fixed income assets.
"The drive for alternatives continues to grow and Clark and his team have designed an innovative investment approach which offers an uncorrelated solution with the benefits of low cost, frequent liquidity and simplicity.
"The strategy enhances the breadth of our capabilities and will help meet the increasing demand from investors for strategies that have a low correlation with their core equity and bond portfolios."
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Clark Fenton added: "From the launch of Agilis we have built our fund and investment process to meet the increasing challenges facing investors wanting to add a genuinely diversifying asset to their portfolios.
"By joining RWC we will be able to focus on continuing to build and strengthen our investment proposition."
