OLYMPIA GROUP OF COMPANIES
The Kenmar Group and the Olympia Group signed an agreement to merge.
The Kenmar Group and Olympia Group of Companies:
Two pioneers in alternative investments merge to expand global footprint
RYE BROOK, NEW YORK and PARIS, FRANCE, April 23, 2012 – The Kenmar Group and the Olympia Group of Companies are pleased to announce that they have signed an agreement to merge, subject to final legal and regulatory approval.
The combined firm, to be called the Kenmar Olympia Group, will have $3.3 billion of assets under management across a broad range of investment management products and services including a proprietary managed account platform, CLariTy Managed Account & Analytics Platform (“CLariTy”); multi-strategy, macro-focused and thematic funds of funds; customized solutions offering a high level of transparency and liquidity; a private bank offering family office services to large private investors; and, life insurance contracts using funds of mutual funds. The new Group will have a global presence with offices in Paris, New York, London, Geneva, Zurich and Singapore.
Under the new structure, Kenmar's founders Ken Shewer and Marc Goodman will serve as co-Executive Chairmen and Global co-Chief Investment Officers of the Kenmar Olympia Group. Sergio Heuer, the current President and Chief Executive Officer of the Olympia Group of Companies, will assume responsibility as President and Chief Executive Officer of the Kenmar Olympia Group. “We believe that merging two long-standing, successful businesses will enable us to offer new products, expand our investment universe, enhance our ability to source new managers and provide opportunities for career growth to our employees”, said Sergio.
The investment team will be led by Ken Shewer and Marc Goodman who have served as co-Chief Investment Officers of Kenmar since founding the company in 1983. Ken and Marc emphasized, “The philosophy and investment management process at the two firms are quite complementary, which will ensure a smooth merger and ongoing synergies. Our broader global reach will enhance our ability to create and distribute to clients customized solutions that offer transparency and liquidity.”
“This merger brings together two of the oldest and most respected firms in the fund of funds industry”, said Pascal Maeter, Chairman of Olympia's Supervisory Board and a Partner of Richmond Park Partners, a controlling shareholder of the Olympia Group. “The exceptional investment experience and operational capabilities of the two companies will be leveraged to create an exciting new firm with a true global presence to meet the needs of today's investors.”
Guido Bolliger, Chief Investment Officer of the Olympia Group, stated, “I look forward to working alongside Ken and Marc to ensure that from an investment perspective, the new firm will benefit from a combined investment team and an integration of both firms' quantitative risk systems.”
The Kenmar Group and the Olympia Group of Companies share a similar culture, based on an entrepreneurial spirit that fosters teamwork and transparency and prioritizes the needs of their clients. The two firms have a long history of providing high quality client service and working collaboratively with investors to create customized portfolios. Moreover, they share a similar investment philosophy and utilize a top-down macro perspective combined with bottom-up manager selection. The combined firm will benefit from the strong reputations of Kenmar and Olympia and their robust research and risk management processes that include proprietary quantitative analysis tools.
The Kenmar Olympia Group will be a premier provider of alternative investment solutions for investors worldwide. The two firms have a complementary suite of products with minimal overlap. Kenmar is a pioneer in the managed futures space with a focus on liquid global macro, FX, commodities and managed futures strategies. Olympia specializes in multi-strategy alternative investment portfolios as well as mutual funds of funds. Both firms share a common focus on institutional investors in addition to a growing high net worth business with products distributed through broker dealers, Registered Investment Advisors and banks.
About The Kenmar Group
Founded in 1983 by Marc S. Goodman and Kenneth A. Shewer, the Kenmar Group brings more than 28 years of experience to designing and managing multi-manager alternative investment portfolios focused on commodities, managed futures, FX and macro strategies. In addition to commingled funds, Kenmar has significant experience constructing and managing customized portfolios for institutional clients designed to meet specific targets either mandated by the client or developed in conjunction with the client. CLariTy, the firm's proprietary managed account platform, provides access to niche managers as well as brand names, all of which have been subject to Kenmar's rigorous due diligence process. CLariTy provides transparency, live portfolio data, analytics and customized reporting through a secure web-portal. Clients include major global investment managers, government
institutions, pension plans, US and international brokerage firms, global financial institutions, private banks, international insurance companies, family offices and a broad private client base.
About Olympia Capital Management
Founded in 1989 by Marc L. Landeau, who remains an active board member, Olympia Capital Management (“Olympia”) is the asset management arm of the Olympia Group of Companies. Olympia is a global investment management company with offices in Paris, New York, London, Zurich and Geneva. In addition to its flagship fund of hedge funds, Olympia Star I, launched in 1991, Olympia manages diversified and thematic funds of hedge funds, mutual funds of funds, customized portfolios and offers a full range of advisory services to institutional clients and qualified investors. The firm has developed its alternative investment expertise and due diligence process over the years and different market cycles. Olympia has also been offering since 1995 a broad selection of the third party French and foreign funds of funds to Independent Financial Advisors (“IFAs”) through life
insurance contracts and has created a family office activity for High Net Worth Individuals in 1996. In 2011, Richmond Park Partners, an independent UK-based merchant bank, became a controlling shareholder of Olympia.
The parties expect to close the deal in July 2012.
For further information, please contact:
Alison Schwab, Director of Marketing and Investor Services, Kenmar Group
Tel: +1 914 307 7722, email@example.com
Stephanie Visayze, Head of Marketing, Olympia Capital Management
Tel: +33 1 4953 7329, firstname.lastname@example.org