Fund Management
GAM Partners With Swiss Commodities Specialist
GAM has been busy reconfiguring its business in recent months.
Zurich-listed GAM Holding has formed a strategic alliance with
Galena Asset Management, which specialises in commodity
finance.
Galena is also a fully owned and regulated investment subsidiary
of Switzerland’s Trafigura Group, the commodity trading and
logistics business.
Under the arrangement, GAM is exclusive global distributor of
Galena’s existing commodity investment strategies.
“We believe commodities are a key asset class for the future,
offering attractive return potential and diversification
benefits,” Elmar Zumbuehl, group CEO at GAM, said.
Galena’s offerings cover trade finance, multi-strategy and
private equity.
GAM has been busy reconfiguring its business in recent months.
In July, for example, it said it was shifting its management
company activities in the UK, Ireland and Luxembourg to Apex
Group, the financial services business.
In August 2023, after moves by UK-listed Liontrust Asset
Management to buy GAM fell through, GAM agreed with investment
groups NewGAMe and Rock Investment SAS to extend immediate
short-term financing of SFr20 million to cover GAM’s liquidity
needs. Rock is a French-incorporated entity that is owned by NJJ
Holding, the personal holding company of Xavier Niel, a wealthy
French businessman. It is part of the NewGAMe group of investors
consisting of NewGAMe SA and Bruellan SA.
