Threadneedle Investments, the London-based investment group, has shrugged off fears that the crisis in the US credit markets is spreading to hedge funds and other debt markets with the acquisition of a manager of emerging market debt hedge funds for an undisclosed sum. Crispin Henderson, Threadneedle’s new chief executive, said the acquisition of Convivo Capital Management is the first step in his strategy to build Threadneedle’s hedge fund business from $2.5bn to more than $10bn within five years. Convivo has the management contracts of two hedge funds with $476m in emerging debt and currencies, and will lift Threadneedle’s hedge funds under management to $3bn and its exposure to emerging markets to $10bn. Julian Adams, cConvivio CEO, will head up Threadneedle’s $1.5bn alternative emerging market debt and currency business.

This entry was posted by Gwen Robinson on Monday, August 13th, 2007 at 5:47 and is filed under Capital markets, Hedge funds, M&A. Tagged with Convivio, Threadneedle. Edit this entry.