Pioneer Investments, a subsidiary of UniCredito Italiano, has bought fund of hedge fund group Moment...
Pioneer Investments, a subsidiary of UniCredito Italiano, has bought fund of hedge fund group Momentum in a move designed to pave the way for aggressive expansion in the alternative investment market. The group's focus has been on single manager/strategy funds and Italian-domiciled funds of hedge funds. The acquisition of Momentum will take it into the fund of hedge funds market for $110m. Dario Frigerio, chief executive officer of Pioneer Global Asset Management, which has some E100bn in assets under management, said: 'The acquisition broadens our offering and strengthens our existing ...
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