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Swiss boutique acquires Vontobel Asset Management's alternative fund solutions unit

News Team, 11/11/2019

Swiss investment boutique Progressive Capital Partners Ltd (Progressive Capital) has reached an agreement with Vontobel Asset Management (Vontobel) to acquire its alternative fund solutions unit.

Further to an existing mandate and a fund solution, the unit’s team of four specialists, led by Ilario Scasascia, will also join Progressive Capital. Mr Scasascia has been named head of its customized solutions unit, which will commence business on 1 December 2019.

More than 80 percent of the assets under management within the unit originate from pension funds.  Alongside pension funds, Vontobel's team of alternative investment specialists have also been developing investment solutions for other institutional clients such as insurance companies, trusts, and family offices for many years. 

Commenting on the deal, Thomas Kummer, Progressive Capital’s chief executive officer said, “Progressive Capital has strategically positioned itself over the past years to service the needs of institutional investors. Thus, the opportunity to acquire the alternative fund solutions business from Vontobel Asset Management came at an ideal point in time. This transaction allows us to further expand our services to institutional clients. We are proud to be entrusted with another substantial pension fund mandate and are looking forward to welcoming the team in our offices in Baar, Switzerland, soon.”

Mr Scasascia added: “The demand of Swiss pension funds for professionally managed alternative solutions continues to be strong. As part of Progressive Capital, we will be able to provide the infrastructure which can satisfy even the most sophisticated institutional investor requirements.”

Progressive Capital will expand to 15 employees and have approximately $830 million in assets under management at the start of December 2019.

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