Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:FS Will Buy a Four-Year-Old MF Startup Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 18, 2019

FS Will Buy a Four-Year-Old MF Startup

News summary by MFWire's editors

A 12-year-old alternative asset manager with a mutual fund business and more than $24 billion in AUM is preparing to buy a four-year-old startup mutual fund firm with about $1.8 billion in AUM.

Michael C. Forman
FS Investments
Chairman, CEO
Yesterday Michael Forman, chairman and CEO of FS Investments, confirmed that the Philadelphia-based firm has agreed to acquire New York- and Kansas City-based Chiron Investment Management, which specializes in "quantamental" (quantitative and fundamental) investing. The deal, pricing and terms of which were not disclosed, is expected to close in Q1 2020.

P&I, the Philadelphia Business Journal, and Reuters all covered the deal.

Chiron CEO Enrico Gaglioti and Chiron chief investment officer Ryan Caldwell are both expected to join FS after the deal, with Caldwell and his team continuing to manage Chiron's three funds.

Chiron launched in 2015, a year after Caldwell left Ivy, as a joint venture between Caldwell and GPS Investment Partners, with GPS' Marc Spilker as Chiron's chairman, GPS' Scott Prince as vice chairman, and GRP' Gaglioti as CEO. As of Chiron's most recent form ADV, filed in May 2019, the firm had 30 employees (not counting clerical staff) and about $2.4 billion in AUM.

Chirons owners and officers listed in that recent filing include: Caldwell, Gaglioti, Prince, and Spilker, as well as chief operating officer John Armenio, distribution chief Kirsten Pickens, chief compliance officer Kristen Richards, chief risk officer Chih-Chia Wen, and holding company Chiron Global Investors. Chiron Global Investors, in turn, is listed as being owned by: BX1 LLC (which is owned by Caldwell), Caldwell, Gaglioti, and GPS Asset Management, LP (which is owned by Gaglioti, Spilker, and GPS AM GP, LLC, which in turn is majority-owned by Gaglioti).

"This is a unique opportunity to diversify our investment management business and expand distribution with a firm that shares our culture, has a high-quality management team and offers a differentiated investment approach," Forman states.

Mike Kelly, president and CIO of FS, lauds the Chiron team for their "deep expertise in multi-asset investing, quantitative and fundamental investment analysis and dynamic portfolio construction."

"We look forward to working together to further develop model portfolios and other creative solutions for our clients," Kelly states.

Caldwell puts the deal in the context of asset managers' "need to provide solutions that combined differentiated traditional asset management and alternatives."

"This transaction positions us to be an industry leader in this regard," Caldwell states. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. Director Discussion Series - Open Forum via Zoom, September 29
  2. IMEA roundtable - Portfolio Construction, September 29
  3. MMI webinar - The Future of Marketing is Changing ... Are You Ready?, September 29
  4. IDC Speaker Series - A Conversation with Roger Ferguson, October 3
  5. IDC webinar - A Conversation with Roger Ferguson, Jr., October 3
  6. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  7. Nicsa Fearless Leadership Symposium, Oct 6-7
  8. 7th Annual FUSE Forum, October 6
  9. 2022 ICI Securities Law Developments Conference - day 1, October 11
  10. MFDF Director Discussion Series - Open Forum (San Francisco), October 12
  11. 2022 ICI Securities Law Developments Conference - day 2, October 13
  12. MFDF In Focus: ESG Data Requirements - What Directors Need to Know, October 19
  13. 2022 MMI Annual Conference, Oct 19-21
  14. 2022 IDC Fund Directors Conference, Oct 24-26
  15. 18th annual Expect Miracles Wine & Spirits Event, October 27
  16. Buford Capital Securities Litigation Symposium, November 1
  17. IMEA All-Council Fall Summit, Nov 2-3
  18. Nicsa 2022 General Membership Meeting, Nov 2-3
  19. Tiburon CEO Summit XLIII, Nov 7-9
  20. 2022 ICI Tech Summit, Nov 8-9
  21. UCITS & AIFMD for U.S. Managers - New York, Nov 8-9
  22. 2022 MMI Distribution Leadership Forum, Nov 9-10
  23. MFDF Asset Management Industry Update and Director Governance Trends, November 10
  24. 3rd Annual ETFGI Global ETFs Insights Summit - United States, Nov 15-16
  25. 2022 MMI Alternative Investments Forum, November 16
  26. MFDF webinar - Mutual Fund CCO Compensation: The MPI Annual Survey Update, November 16




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use