Manning & Napier, Inc. is acquiring the business and operations of 2100 Xenon Group, LLC, an alternative investment manager specializing in managed futures and global macro strategies for institutional and individual clients.
2100 Xenon’s clients include global financial institutions, public funds, fund of funds, high net worth individuals and family offices from around the world.
The purchase will enhance Manning & Napier’s alternative capabilities and provide increased product diversification to clients. The acquisition is subject to regulatory approvals and is expected to close in the second quarter. Financial terms of the transaction were not disclosed.
As part of the transaction, Manning & Napier will acquire three alternative investment product track records and add personnel with investment expertise in managed futures, including Jay Feuerstein, founder, CEO and chief investment officer of 2100 Xenon and Jeff Bolduc, director of research.
Feuerstein will take over as managing director of alternative strategies for Manning & Napier’s Senior Research Group. Bolduc will be a portfolio manager within the firm’s Alternative Strategies Group.
“Manning & Napier has been actively searching for a complementary manager to expand our investment management capabilities to include alternative strategies. Our objectives included both product diversification and expanding the solution set we offer to our clients in today’s challenging environment. We believe the blend of our sales and service capability with the added investment expertise will prove a winning combination,” Said Patrick Cunningham, CEO of Manning & Napier.
Manning & Napier provides a broad range of investment solutions through separately managed accounts, mutual funds, and collective investment trust funds, as well as a variety of consultative services that complement our investment process.
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