The boutique of leading global bond manager Bruno Crastes, H2O Asset Management, has acquired a majority stake in a UK-based systematic commodity trading company.
Crastes is the founder of the London-based firm, which is backed by Natixis Global Asset Management, and is the number one global bond manager over three years according to Citywire’s manager ranking for his performance on the H2O Multibonds fund.
In a letter on its website, H2O announced the purchase of a 51% share of Arctic Blue Capital from Stable Asset Management. The terms of the deal have not been disclosed and it is subject to FCA approval.
London-based Arctic Blue currently manages around $200 million in assets through a managed account and an equity long/short strategy domiciled in the Cayman Islands.
The fund was launched in 2008 and seeded by Stable Asset Management in June 2014.
H2O will provide extensive infrastructure and operational support to enable Arctic Blue to grow further.
The flagship fund, the Arctic Blue Original Strategy, and its equity-focused Atlanterra strategy will be distributed on the H2O platform in London.
The management will remain a separate entity from the core H2O team and Arctic Blue’s CIO and founder Jean-Jacques Duhot will continue to lead the firm.
Commenting on the purchase, Crastes said: ‘Arctic Blue’s systematic commodity-focused strategies perfectly complement our existing suite of products. In fact, we already share a number of top tier clients and we look forward to increasing this number as a combined entity.’
‘This first acquisition is part of our strategy of revenue diversification due to growing management capacity constraints.’
Over the past three years, Crastes has returned 45% through the Multibonds fund while the average global bond manager has returned 22.3%