Hedge fund house P Schoenfeld Asset Management (PSAM) has taken a minority stake in private office advice firm CdR Capital.
CdR Capital was founded in 2012 and splits its management between London and Geneva. The company offers investment services to a client bank of institutional investors and family offices, and also has branches in Miami, Sao Paolo and Brazil.
The purchase will allow PSAM access to CdR asset allocation process and quantitative management team, the company said in a statement.
PSAM partner Caroline S. Greenwald said: ‘We have known the founders and partners of CdR Capital for many years and their approach is thoughtful and innovative.
‘We are excited to partner with them as we enhance two decades’ investment experience so we can best serve both our current and future clients.’
PSAM was founded in 1997 by Wall Street veteran Peter Schoenfeld. Together the two businesses will influence client assets of more than $5 billion (£3.9 billion).