Deals
GAM Buys Machine-Led $4 Billion Fund Manager Cantab Capital
- GAM to pay Cantab $217 million cash plus deferred payments
- Cantab co-founded by ex-Goldman Sachs quant manager Ewan Kirk
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GAM Holding AG is buying Cantab Capital Partners LLP for $217 million in cash and deferred payments after spending 18 months weighing the purchase of a computer model-driven fund.
The acquisition enables Zurich-based GAM to introduce a computer-driven trading system focused on long-only and alternative strategies, the asset manager said in a statement on Wednesday. The shares rose the most in almost three years.