Collins Stewart announced that it acquired investment manager Corazon Capital.
Collins Stewart Wealth Management (“CSWM”), an investment manager and stock broker with offices in the U.S. and abroad, acquired Guernsey-based investment manager Corazon Capital (“Corazon”). Corazon, which currently has approximately £382 million in assets under management, manages an absolute return fund, an alternative strategies fund and a fund of hedge funds. Corazon’s 16 staff members in Guernsey and Geneva, Switzerland will be integrated into the CSWM offices, increasing CSWM’s staff to more than 60 in the Channel Islands. CSWM, which has assets under management and administration of £5.9 billion, had net inflows for 2009 of over £330 million and a growth of 6.8 percent.
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