Waystone Luxembourg on Tuesday said it will provide single-umbrella ManCo and related services to US-based Fred Alger Management’s SICAV range.
The partnership will add 600 million US dollars to Waystone’s AuM, raising it to 2,000 million US dollars and is part of the firm’s international expansion effort in recent years.
“The third-party fund management market continues to evolve, with a particular focus on the ability of a provider like Waystone to deliver services globally in all major markets,” said Denis Harty (photo), Waystone’s country head for continental Europe.
Pioneer of active
Alger is a US-based growth equity asset manager, founded in 1964, which sought these services for its EEA expansion. The New York City-based firm was a pioneer of actively managed equity investing. The firm is also engaged in making large-scale acquisitions, including global growth equity manager Redwood Investments.
Waystone describes itself as a leading provider of institutional governance, risk and compliance services to the asset management industry.
Related articles on Investment Officer Luxembourg:
- IO Talks: Denis Harty, CEO at Waystone Luxembourg
- Waystone emerges as big gorilla in the Raif market
- Waystone becomes Ireland’s largest Ucits ManCo