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August 07, 2005
Summit Partners & Coast Asset management - convergence of private equity funds and hedge funds
More and more instances of convergence of private equity funds and hedge funds is being witnessed these days. The most recent amongst them is private equity and venture capital firm Summit Partners acquiring minority ownership interest in Coast Asset Management. Coast Asset Management is an alternative investment manager serving institutional and high net worth investors. Boston-based Summit Partners now have one third stake in Coast Asset Management. Summit Partners feel that Coast has a very professional team and they adopt a very disciplines investing strategy. As such Coast is most certainly an asset to their portfolio of leadership companies. They are hopeful of a well coordinated effort towards broadening their investor base and development of additional innovative products in collaboration with Coast. Coast Asset employs four different types of investment strategies namely fixed income arbitrage, diversified credit spread investment opportunities, special situations investments and multi-manager fund of hedge funds. Altassets.com reports:
“Coast's portfolio spans four investment strategies - fixed income arbitrage, diversified credit spread investment opportunities, special situations investments and multi-manager fund of hedge funds.”
Read More: US Summit Partners buys minority ownership interest in hedge fund Coast
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