Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 30 n°108

Schonfeld and Folger Hill to Create a Global Fundamental Equities Business

Posted by fidest press agency su domenica, 15 aprile 2018

Schonfeld Strategic Advisors LLC (“Schonfeld”), an SEC-registered investment adviser, and Folger Hill Asset Management (“Folger Hill”) today announced an agreement that will combine the fundamental equities businesses of the two organizations under the Schonfeld brand. In conjunction with the transaction, Leucadia National Corporation (“Leucadia”), the parent company of Folger Hill, and Sol Kumin, Chief Executive Officer and founder of Folger Hill, will acquire a revenue share interest in Schonfeld’s global fundamental equities business. Leucadia also has agreed to make an investment in Schonfeld’s fundamental equities fund.The combination will add seasoned portfolio management teams and non-investment professionals to Schonfeld’s global fundamental equities platform. Ryan Tolkin, Schonfeld’s Chief Investment Officer, said, “We are pleased to welcome Angus Wai and the Folger Hill team to Schonfeld. We look forward to deploying additional capital to the existing investment teams and to attracting additional top talent. We believe the expanded fundamental equities platform will benefit from Schonfeld’s broad investment mandate and the infrastructure, technology and data strategy that we have developed within our overall business.” Mr. Wai, Chief Executive Officer of Folger Hill Asia, will continue in his current role under the Schonfeld brand. Mr. Wai said, “I am confident that the expansion of our relationship with Schonfeld and Leucadia will further strengthen our position as a premier destination for top portfolio management talent in Asia.” Rich Handler, CEO of Leucadia, and Brian Friedman, President of Leucadia, said, “We are pleased to partner with Schonfeld, a pre-eminent investment management business with an exceptional track record.” Mr. Kumin will become Chief Strategy Officer of Leucadia Asset Management LLC, responsible for, among other things, identifying additional attractive asset management businesses. Messrs. Handler and Friedman added, “We are happy to continue our partnership with Sol as we grow Leucadia Asset Management.” The transactions are expected to close in the second half of 2018, subject to customary closing conditions, including regulatory approval.

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