ABN AMRO Asset Management has completed the acquisition of 100% of International Asset Management (IAM) following receipt of regulatory approval from the UK Financial Services Authority.
ABN AMRO announced on 20 January a definitive agreement to acquire IAM, a specialist fund of hedge funds manager with around US$ 2.8 billion of assets under management. The integration process will now begin.
“We are looking forward to working more closely with our partners at IAM now that the deal has closed,” says Kevin Smith, Chief Investment Officer Equities at ABN AMRO Asset Management. “Through our shared values of excellent client service and strong performance we hope to maximise the benefits of the acquisition while maintaining business as usual for existing clients.”
ABN AMRO Asset Management currently has assets under management of Euros 176.2 billion (as at 31 December 2005).
The flagship fund of IAM, founded in 1989, is Alternative Investment Strategies Ltd. This fund has delivered a 10.53% annualised return since its inception in 1996.