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.

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