Merrill Lynch has added to its minority stakes in hedge fund management firms by acquiring within the space of a few days non-controlling investments in GSO Capital Partners and Sterling Stamos Capital Management, firms with a combined $12 billion in assets under management, Hedge Week.
Founded in 2002 by chairman and chief executive Peter Stamos, Sterling Stamos is a private investment firm that manages more than $4 billion in assets on behalf of high net worth individuals and institutional investors globally.
Sterling Stamos invests in public and private equity assets, fixed income and real estate as in pursuit of traditional and alternative investment strategies and has offices in New York, Menlo Park in California and Tokyo.
“Sterling Stamos is a leading investment firm with an outstanding management team,” says Rohit D’Souza, head of global alternative investments and global head of equities at Merrill Lynch. “We will work with Sterling Stamos to grow their successful business by using Merrill Lynch’s global resources.”