Threadneedle acquires Convivo Capital Management

Threadneedle is pleased to announce the acquisition of Convivo Capital Management Limited (Convivo), a specialist emerging market hedge fund business.

Convivo manages assets of US$ 476m in two strategies, which Threadneedle will acquire, subject to regulatory approval. Julian Adams, CEO of Convivo will join Threadneedle to run its enlarged emerging market debt business.

Simon Davies, Chairman of Threadneedle, commented “This transaction achieves two important goals for Threadneedle: it further boosts our hedge fund business and it significantly increases our presence in emerging markets, particularly in the areas of currency and debt. We believe that the combined resource of Convivo and Threadneedle represents a major attraction to our client base”.

Julian Adams, CEO of Convivo commented “We are very excited by the tie-up with Threadneedle. The enhanced team will allow us to develop a powerful position in the Emerging Markets area and the extra resource and infrastructure which Threadneedle provides will allow us to focus exclusively on our core competences to the benefit of all parties.”

Threadneedle launched its hedge fund business in 2000 and will now manage about US$3 billion across nine different strategies, three of which will be in the emerging market area. Further strategies will be launched later in the year. Overall, Threadneedle will manage over US$10 billion in emerging markets of which US$1.5 billion will be in the debt and currency area.