REPORT: OpenFunds, press release Oct 2017
Kroma Capital Partners Ltd. (‘Kroma’) and OpenFunds Investment Services Ltd. (‘OpenFunds’), announced today a strategic partnership with Absolute Return Partners LLP (“ARP”) for the distribution of investment funds to professional investors in the Middle East and Switzerland.
Kroma and OpenFunds will initially market a multi-manager fund investing in direct lending strategies advised by ARP to their respective network of professional investors in the Middle East & Switzerland respectively.
ARP is a London based investment advisory business founded in 2002 which focuses on providing bespoke alternative investment solutions to institutional investors. ARP currently manages over US$ 600 Million of assets.
ARP’s primary focus is on its advisory business serving institutional clients and focussed on researching third party funds operating in niche asset classes such as direct lending. ARP also manages a selection of multi manager products, and managed accounts primarily offered to Family offices and HNWI’s.
Kroma is licensed and supervised by the Dubai Financial Services Authority (‘DFSA’) as an advisor and arranger of investments to professional investors. The company was founded by two Man Investments veterans, Kamlesh Bhatia and Wolfgang Landl, the latter a co-founder and Director at OpenFunds.
OpenFunds’ principals and team members have raised over USD 2 Billion in assets, in particular in the alternative investment space. The firm is a recognized pioneer in the area of private debt, having seeded and raised over the years over USD 500 Million of both open-ended and closed-ended funds. The company, founded in 2013, with offices in Zurich, Geneva and Lugano, has 15 employees, of which 10 are actively involved in the distribution of investment funds, making it the largest independent distributor in Switzerland.
Kamlesh Bhatia, co-founder and Director of Kroma added “We are very pleased to work with ARP and profit from their research capabilities and vast network of fund managers. Offering ARP funds which are diversified across various strategies and geographical locations is definitely a plus for our clients. The local presence and support is a clear differentiating point for the fund managers we work with and key to success for gaining and retaining investors in the Middle East.”
Siro Zanovello, co-founder and CEO of OpenFunds said “The partnership with ARP will allow us to offer our clients an excellent product in the private debt strategy, which is one of the strategies OpenFunds concentrates on. The ARP team has excellent reputation amongst institutions for its advisory and research capabilities.”
About ARP
ARP is a London based investment advisory business, regulated by the UK Financial Conduct Authority as a full scope Alternative Investment Fund Manager (‘AIFM’). Read more at www.arpinvestments.com.
About OpenFunds:
OpenFunds Investment Services Ltd. is an independent company established under Swiss law, licensed and supervised by the Swiss Financial Market Supervisory Authority (‘FINMA’) as legal representative and as distributor of foreign collective investment schemes for qualified investors. Read more at: www.open-funds.ch.
About Kroma:
Kroma Capital Partners Ltd. is an independent company with headquarters in the Dubai International Financial Centre, licensed and supervised by the Dubai Financial Supervisory Authority (‘DFSA’) with a Category 4 license. Read more at: www.kromacp.com.
For additional information:
Kroma Capital Partners Ltd., email: info@kromacp.com, Telephone: +971 4 323 18 10.
Norbert Schmitz, Sales and Business Manager, OpenFunds Investment Services Ltd., nschmitz@open-funds.ch, Telephone: +41 44 500 31 07.
This document is for information purposes only. It does not constitute an offer, or an invitation to offer, or a recommendation to enter into any transaction. Furthermore, it must not be regarded by recipients as a substitute for the exercise of their own judgment and appropriate due diligence. The information set for herein should not be construed as an investment recommendation. This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. Interests in the Fund have not been registered under the Securities Act of 1933, as amended, or any U.S. state securities law, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.