Hermes Buys Equities Specialist Sourcecap
Monday, December 14, 2009 : PermalinkWSJ – Hermes Fund Managers has acquired a European equities house, part of a strategy to offer investors access to boutique asset managers, from shareholders including UK broker Execution and the largest pension scheme in the US.
Sourcecap, a UK-based asset management firm, will form part of Hermes’ multi-boutique platform alongside hedge fund BPK.
Execution took a majority stake in Sourcecap at its launch in 2007, while the $200 billion (EUR136 billion) California Public Employees’ Retirement System took a stake a year ago.
