Management Buyout Of Julius Baer's Hedge Fund Team Now Completed

by Ulrika Lomas, for LawAndTax-News.com, Brussels

14 February 2007

It emerged last week that the management buyout of Julius Baer's hedge fund team has been completed.

Simmons & Simmons, the international law firm, advised the management of Julius Baer Investments Limited (now Augustus Asset Managers Limited) on the management buyout of Julius Baer’s London fixed-income investment boutique, currently with assets under management of US$9bn.

The buyout came 18 months after parent Julius Baer Holding Limited (JBH) bought the larger fund of hedge fund business, GAM, from UBS.

Now independent, the renamed Augustus will repay an undisclosed sum to JBH from their profits over the coming years. JBH were advised by Freshfields.

Neil Simmonds, who led the Simmons & Simmons team, observed of the buyout that:

"This is a significant transaction in the hedge fund management market, and we are delighted to have been involved. There has been a huge amount of corporate activity in the hedge fund arena recently, but a management buyout such as this is relatively unusual. We have advised the Augustus team for a number of years in respect of the funds and the success of this deal further underlines our sector strength across all practice areas."

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