Morgan Creek Capital Management LLC, a money manager that helps clients invest across asset classes in the style of endowments, agreed to acquire the alternative- funds business of Signet Capital Management Ltd.
Signet, whose alternative-funds unit has $700 million in assets, specializes in global fixed income and has offices in London and Lausanne, Switzerland. The firm’s senior management team, including founder Robert Marquardt and Chief Executive Officer Serge Umansky, will join Morgan Creek, the Chapel Hill, North Carolina-based manager said today in a statement.
“This agreement represents a major achievement in our overall strategy to expand our global footprint,” Mark W. Yusko, Morgan Creek’s chief investment officer, said in the statement.
Morgan Creek invests in a range of categories including equities, fixed income, hedge funds, private equity, real estate and venture capital. The transaction is expected to close in the second quarter, according to the statement.