Henderson Group, a multinational asset management business, has acquired a substantial stake in a Sydney-based hedge fund.
Henderson bought 30 per cent of Attunga Capital, a Sydney hedge fund that pursues niche strategies in the energy trading and environmental sectors, in November 2008.
According to the Attunga, the purchase formed a broader relationship that began with a marketing and distribution agreement between the two businesses.
Ian Gibson, managing director of Attunga, could not be reached for comment before press time.
Headquartered in London,Henderson Group is the holding company of Henderson Global Investors (Henderson GI). Founded in 1934, Henderson GI maintains offices in Europe, the USA and Asia, and manages approximately £52.6 billion for institutional, retail and high-net-worth clients.
Through its Enviro Opportunities Fund and Power and Enviro (Offshore) Fund, Attunga invests in power market derivatives, primarily focusing on the Australian National Electricity Market. But its mandate also includes carbon dioxide emissions, weather, gas and water investment instruments.
The Attunga Agricultural Trading Fund sees the manager apply relative value and other trading strategies to global, exchange-traded soft commodity and agricultural securities and derivatives.
On January 30, Henderson moved to buy UK alternatives manager New Star Asset Management for £115 million. It exepected the acquisition would make Henderson the 5th largest manager in the UK retail market.