Broadstone Capital Group has completed its acquisition of Harvest Global Asset Management, a Dublin-based active investment manager which has a significant Life and Pensions business. Founded in 1992, Harvest has over Euros 150 million under management. The Irish Financial Services Regulatory Authority (IFSRA) has already approved the transaction.
Both companies will continue to operate under their respective brand names, with Harvest focusing on the Irish pension fund market and Broadstone focusing on the global alternative investment sector.
“This expansion offers strong synergies that will allow both Broadstone and Harvest provide a greater choice and return to their clients,” says Broadstone’s Group Managing Director, David Murray. “We are committed to bringing our breadth of expertise and resources to enhance the prospective performance of Harvest’s funds. Broadstone has positioned itself to benefit from the growing trend of institutional pension funds and insurance companies who may be considering making allocations into the Alternative Investment sector. Broadstone’s investment philosophy is to deliver strong risk management and capital preservation, whilst providing high returns with modest volatility. We are confident that Broadstone’s commitment to providing the highest calibre of investment management will enhance the excellent service that Harvest’s clients already receive.”
Harvest founder Mervin Harris says the deal; enables his firm to capitalise on Broadstone’s expertise and resource base, and access new investment techniques, increased security and industry-leading technology. “As a result, Harvest’s existing size, contacts, technology and expertise will grow thus enabling Harvest improve the prospect of delivering superior returns to our clients and offering a wider choice to the marketplace,” he says.
Established in 2002, Broadstone Capital Group Limited is a Dublin-based alternative investment fund manager .
Broadstone’s founder and Head of Trading, Gerry O’Neill, was previously Head of Fixed Interest Trading at ABN AMRO (Dublin) and Managing Director at Kyte Fund Management (Ireland). The Kyte flagship fund was the Tomahawk Fund, which was ranked in the ‘Top Ten Global Funds’ in 1999/2000 by Mar hedge, the reporting industry standard for hedge funds. Broadstone’s Group Managing Director, David Murray, worked for Exxon, Smurfit and latterly was Global Marketing Manager for Shell Chemicals in London, before returning to Ireland in 2000 to assist business ventures in the technology sector.
Established in 1992, Harvest Global Asset Management offers Investment Funds, Pension Funds, Segregated Portfolios, Approved Retirement Funds, Principal Protected Funds and Customised Funds for Institutions.
Harvest’s founder, Mervin Harris, has more than 20 years experience in the financial and investment sector and has worked in senior positions for a number of major Irish financial institutions such as Irish Life Assurance, Guinness & Mahon Bank and Anglo Irish Bank Corporation. He will continue in his role of Investment Director of Harvest and has joined the Broadstone main board. Harvest is regulated by IFSRA and is designated as a Qualified Fund Manager (QFM).
Harvest generates business through a network of brokers and investment intermediaries and has relationships with Irish Life and New Ireland Assurance as well as Merrill Lynch.