iM Global Partner, announced the acquisition of a minority interest in Sirios Capital Management (Sirios). The investment will enable Sirios to continue to support its current investment strategies and provide exceptional client service throughout the U.S. and abroad.
iM Global Partner (previously branded iM Square) is a leading investment and development platform dedicated to global asset management. Its objective is growth investing in traditional and alternative entrepreneurial investment firms in the U.S., Europe and Asia, to whom it provides financial, distribution and operational support.
Sirios is a Boston-based, employee-owned investment firm with $2.3 billion in AUM. It provides investment services to endowments, foundations, high net worth individuals, corporations, and pooled investment vehicles. The firm invests in mid to large capitalization companies on a global basis, with a primary focus on the U. S., and employs both long/short and long strategies.
iM Global Partner will provide Sirios with select client service, sales and marketing support, as well as access to its U.S. distribution platform, launched earlier this year and designed to enable traditional and alternative managers to create new, worldwide and multi-channel routes to market for investment assets. The US-based platform will enable Sirios with a distribution resource to further enhance its growth and client service, and compliments iM Global Partner’s distribution platform in Europe and other regions.
Philippe Couvrecelle, chairman and CEO of iM Global Partner, said: “We are convinced that boutique asset management firms have a unique DNA that enables the most talented of them to provide outstanding returns to their clients. In our opinion, Sirios is one of the best firms in the long-short equity space and is well positioned to turn challenges of our industry into opportunities that drive the next phase of their growth. We are looking forward to working alongside them as we mutually realize these goals.”
Commenting on the iM Global Partner investment, John Brennan, co-founder of Sirios said: “Sirios has remained focused on a consistent, bottom-up investment process since its founding in 1999. What drew us to partner with iM Global Partner is their commitment to supporting our existing business as well as our plans for continued steady growth across our three investment strategies.”
Jeff Seeley, U.S. chief operating officer and head of distribution for iM Global Partner US added: “We launched iM Global Partner’s U.S. distribution platform earlier this year, and are starting to see results. Our investment in Sirios and distribution partnership will broaden our capabilities with intermediaries and financial advisors in the US, and we are thrilled to be helping Sirios engage across new channels as they continue to grow.”
iM Global Partner previously acquired minority stakes in two U.S. asset managers: Polen Capital, an independent management firm that specializes in growth stocks, and Dolan McEniry Capital Management, which specializes in US corporate bonds. Their respective assets under management have grown since the iM Global Partner investments -- Polen Capital’s from $7.5 billion in 2016 to $20.4 billion as of June 2018; Dolan McEniry’s from $5.8 billion in 2017 to $6.4 billion as end of June 2018.