Ares Management Corp., a global alternative investment manager, has acquired a minority equity stake in BlueCove Ltd., a London-based scientific fixed-income manager.
BlueCove has $1.8 billion of assets under management and was founded in 2018 by Hugh Willis and Alex Khein. The company works to bring together fixed income industry investment, engineering and business infrastructure professionals with the purpose of researching and developing scientific investment processes applicable to fixed-income investment management. The transaction comes with the option for Ares to acquire control of the business over a multi-year term.
“We believe that this transaction has the potential to significantly accelerate our mission of bringing scientific fixed income investing to a global client base in the years to come,” states Willis.