Crestline Acquires Northwater Hedge Fund of Funds and Beta Overlay Assets

October 1, 2009

Crestline Investors acquired certain assets related to Northwater Capital Management’s hedge fund of funds and beta overlay investment management businesses.


In a joint press release dated October 1, 2009, Texas based Crestline Investors, Inc. (“Crestline”), an institutional alternative investment manager, and Northwater Capital Management, Inc. (“Northwater”), an investment company with offices in Toronto, New York and Chicago, announced the closing of a transaction under which Crestline acquired certain assets related to Northwater’s hedge fund of funds and beta overlay investment management businesses.  The terms of the transaction were not disclosed.  The acquisition is expected to be effective on or about October 1, 2009.


As part of the transaction, Crestline will establish Crestline Canada, Inc. (“Crestline Canada”), an affiliate office located in Toronto, to serve existing and acquired Canadian client accounts.  Paul Robson, former President of Northwater, will lead Crestline’s Canadian business efforts as President of Crestline Canada.

The acquisition increases Crestline’s total assets under management to approximately $5.8 billion.


Crestline’s acquisition includes $1.5 billion of Northwater client beta overlay investment management businesses and $683 million of Northwater client hedge fund of funds assets, which increases Crestline’s hedge fund of funds assets to $4.3 billion.


To view the press release, please click here.



Hedge Fund M&A, Investment Manager M&A, Transactions