IAM regains independence
9 July 2008

Written by Sophie Baker

International Asset Management (IAM) has undertaken a 100 per cent management buy-out of the firm from Fortis, signalling its return to independence.

The action concludes a strategic review that has been underway following the merger of Fortis Investments and ABN AMRO Asset Management (AAAM), completed on 1 April 2008. IAM was privately owned from launch in April 1989, until it was acquired by AAAM in February 2006, becoming the fund of hedge fund (FOHF) team within the larger organisation. The entire IAM team, including the original founders, remains with the firm.

IAM has US$4.3bn in assets under management and also manages a range of offshore commingled funds, with flagship fund Alternative Investment Strategies Ltd, the first closed-ended FOHF to launch on the London Stock Exchange in 1996.

Morten Spenner, CEO at IAM, commented: “Our future as an independent specialist is an exciting opportunity for us all. IAM’s new ownership structure generates a strong alignment of interests within the firm plus great depth of experience from our two new external shareholders,” Sir Ronald Cohen and Jeffries Group, Inc.

Future plans for the firm include increasing IAM’s global reach and audience, aiming to develop a broader sales and distribution network whilst maintaining a focus on tailor-making FOHFs investment solutions for clients.