NEW YORK (Reuters) - Hedge fund firm P. Schoenfeld Asset Management has bought a minority stake in CdR Capital, the two investment managers said in a statement on Monday.
P. Schoenfeld, the $2.2 billion New York and London-based firm known as PSAM and led by Peter Schoenfeld, specializes in more traditional research-based investing as part of its core strategy of betting on corporate events.
The purpose of the acquisition is to capitalize on CdR’s expertise in quantitative investment and asset allocation, according to the statement. Terms of the deal were not disclosed.
CdR is based in London and Geneva and manages more than $3 billion in fee-earning assets when counting a partnership with CdR Hollander. Founded in 2012 by Omar Ayache and Steve Smith, CdR manages investment portfolios for wealthy individuals and institutions.
CdR recently added a team specialized in so-called risk premia, a quantitative investment technique that attempts to capture returns above various market indexes based on historical patterns.
Reporting by Lawrence Delevingne; Editing by Bernard Orr