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Rating:A West Coast Fund Shop Acquires Again Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 24, 2009

A West Coast Fund Shop Acquires Again

Reported by Meredith Mazzilli

Hennessy Advisors has inked a deal with SPARX Investment & Research to acquire two funds with combined assets of about $65 million. The deal is expected to be completed by the end of September.

Neil Hennessy
Hennessy Advisors
Chairman, President and CEO
Hennessy will retain Tokyo-based SPARX Asset Management as sub-advisor to the funds. The SPARX Japan Fund will be renamed Hennessy Select SPARX Fund and the SPARX Japan Smaller Companies will take the name Hennessy Select SPARX Japan Smaller Companies Fund.

The Select fund series launched in March when Hennessy acquired the assets in the Tamarack Large Cap Growth Fund and the Tamarack Value Fund from Voyageur Asset Management.

In an interview with The MFWire, Neil Hennessy, president, chairman and CEO, said he admires SPARX’s history as a company, adding that they were "built pretty much the same way" as Hennessy Advisors, having started in 1989 in the "traditional way."

Hennessy said that the two companies' synergies go together very well, and with regards to further fund additions, Hennessy noted that he is "always looking and talking, waiting to find partnerships that work."  

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