Partners Group Holding AG (PGHN.EB) Monday said it has sold its hedge-fund managed-accounts business to Sciens Capital Management, completing the Swiss asset manager's move out of hedge funds.The two companies said in a statement that Sciens Capital will buy the hedge fund platform in a cash and earn-out transaction. Financial details of the transaction were not disclosed.
Partners Group said transferring the platform represents less than 1% of assets under management, currently around CHF25bn. The platform has between $600m and $700m under management, across roughly 50 hedge fund strategies.
