The Swiss banking group SYZ & Co has bought Oria Capital for an undisclosed amount. Oria will be renamed 3A Asia and will be partnered with SYZ’s 3A SA, which specialises in hedge fund analysis and alternative portfolio management.
3A manages $2.5 billion in hedge fund assets globally and provides research and due diligence for $3.7 billion in alternative investments.
“We have three Oria products, namely the Oria Commodity Fund, the Oria Asia Fund and the Oria Plus Fund; and we also manage four structured notes for Deutsche Bank,” says Jennifer Carver, CEO of Oria. “We currently have $50 million under management. We will be concentrating on raising assets for our existing funds and 3A’s existing funds before we launch anything new. All staff is staying around in their usual capacities and we have no plans to hire anyone else at this point.” Oria Asia and Oria Plus are multi-strategy funds of hedge funds with Asian and global coverage, respectively.
In November, the Asian fund was up 7.3 percent from 2005 and the global fund rose 9.7 percent. The Oria Commodity fund rose 37 percent.