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Asset management roundup: Northill buys US fiduciary manager

first_imgLondon-based Northill Capital has bought a majority stake in leading US fiduciary manager Strategic Investment Group.Northill completed the acquisition of the majority equity interest – previously held by FFL Partners – last week. The financial terms were not disclosed.Strategic’s senior management and investment teams also increased their direct ownership of the firm as part of the transaction, with further increases expected over time, according to a statement from Northill and the $26bn (€22.9bn) fiduciary manager.  According to the statement, Strategic is the largest independent investment manager dedicated to what in the US is called the “outsourced CIO” (OCIO) sector. All of its clients approved the transaction.    Brian Murdock, chief executive of Strategic, said: “We are thrilled to be entering into this partnership with Northill, with whom we share a strong philosophical and cultural alignment. Northill provides a patient and permanent capital base and complete autonomy to manage our business and our investment process. Credit: MrPanyGoff, Wikimedia Commons/FlickrAerial view of Arlington County, Virginia, where Strategic Investment Group is based“The transaction also provides a mechanism to ensure cross-generational stability by increasing the equity ownership of the current and future leaders of our firm.”Jon Little, partner at Northill, said Strategic was “the gold standard independent investment firm in the OCIO/solutions sector”. “The management team’s increased ownership of the business is a strong vote of confidence in its future and that of the sector,” he added.  The transaction is Northill’s sixth acquisition, taking its assets under management to over $79bn, from $53bn as at 31 December. In early 2016 it took over a majority stake in Danish asset manager Capital Four, which at the time was running an SME loan fund backed by some of Denmark’s largest pension providers. BMO launches SDG-targeted small and mid-cap fundBMO Global Asset Management has launched a global small- and mid-cap equity fund designed to deliver long-term growth and a positive social or environmental impact through targeted engagement with investee companies.The new fund is seeded by UBS’ wealth management arm, and will hold 40-60 global small- and mid-cap companies. BMO said these must meet strict criteria around quality and value as well as offering scope for helping to achieve the UN Sustainable Development Goals (SDGs).BMO said that, for each company the fund invested in, engagement objectives would be set with a view towards driving progress against key targets set out in the SDG framework. Mark Haefele, chief investment officer at UBS Global Wealth Management, said: “In our view, responsibly engaging with public companies and changing their behaviour for the better is one of the most exciting new areas of impact investing.” The BMO SDG Engagement Global Equity Fund has an ongoing charge of 1.05% for institutional investors.last_img read more


Volleyball: Badgers unable to avenge previous loss, fall to Gophers 3-2

first_imgThe University of Wisconsin volleyball team was looking for revenge Saturday night at the University of Minnesota, but instead, they suffered defeat at the hands of their rivals for the second time this season, falling 3-2.The Badgers fell in a five-set drama: 22-25, 25-17, 11-25, 25-17 and 15-8. The Badgers fell to the Gophers earlier in the season in an embarrassing three-set sweep: 25-20, 25-18 and 25-14.Starting shortly after Wisconsin was able to put away Minnesota for the 13th consecutive year in football, the volleyball team was hoping to emulate their peers and notch a victory of their own. The Badgers took care of business in the first set, holding the lead or playing tied for almost the entire set, except for Gophers leads of 1-0 and 15-14.Volleyball: Matchup with Nebraska is Badgers chance to rebound in Big Ten raceEven the University of Minnesota’s squad may have found it hard to believe that last Wednesday’s shocking 3-0 sweep over Read…In the second set, the two teams played each other tight, almost matching each other point for point to play to a Minnesota lead of 18-17. From there, however, the visiting Gophers went on a 7-0 run to end the set.Showing resiliency and fight, Wisconsin did not let that run dictate the rest of the match and instead dominated the third set to take a 2-1 lead. Wisconsin used a run of 10-3 to take a 13-6 lead and then ended the set on a 6-2 run for a 25-11 final.The Badgers were unable to win another set after the third. In both the fourth and fifth sets, Minnesota was able to put together short runs of 3-0 and 4-0 when Wisconsin was unable to break the serve of their opponents. In the end, the short runs were too much to overcome and led to Minnesota’s second win in the season’s rivalry in as many tries.Overall, Wisconsin showed more explosive offense throughout the match, but ultimately, Minnesota used their defense to win the game. The Badgers held the margin in kills at 69-64 and recorded more assists with a 67-60 advantage, but Minnesota was able to out-block Wisconsin 9-8 and out-dig them 81-75.Volleyball: No. 1 Badgers lose to close rival No. 3 Gophers in sweepIt’s all but guaranteed that the University of Wisconsin women’s volleyball team will lose their newly acquired No. 1 ranking after Read…The Badgers did not have to dwell on the loss for long. The NCAA released the 64-team bracket for the postseason Sunday night. The committee did not view the late-season loss as worrisome, and gave the volleyball team the highest placing in program history with the no. 3 overall seed.The Big Ten will be well represented in the tournament once again. Wisconsin will be joined by conference members No. 1 seed Nebraska, No. 2 Minnesota, No. 9 Michigan State, No. 12 Michigan, No. 16 Penn State, Ohio State and Purdue. The Big Ten leads all conferences with eight teams.Joining Wisconsin in their bracket is No. 6 seed Stanford, No. 11 seed Florida and No. 14 seed Kansas State. First, however, UW will need to take care of business in their first-round match up against Howard University. Out of the MEAC, Howard earned the bid to the tournament by going undefeated in conference play to win the automatic bid and have experience this year with playing against Big Ten opponents from early season games against Purdue and Penn State.The first-round will begin this Thursday in Madison when the Wisconsin-Howard match is followed by Marquette-Washington State. The winners will advance and face each other Friday night in the second-round with a Sweet 16 bid on the line.last_img read more