Fidante takes minority stake in Latigo

Fidante Partners has acquired a minority stake in New York City-based Latigo Partners, a fund manager focused on event-driven investing. No financial terms were disclosed.

PRESS RELEASE

London and New York, 15 March 2018 – Fidante Partners, an international investment management business, and Latigo Partners, L.P., a fund manager specializing in eventdriven investing, announced today that Fidante has acquired a minority stake in Latigo. As part of the transaction, the Life division of Fidante’s parent company, Challenger Limited, has made an investment in Latigo’s funds.

Founded in 2005 by David Ford and David Sabath, Latigo has focused on building a unique offering in event-driven investing. Latigo’s strategies include distressed securities, special situations and long/short credit and equity investing.

Partnering with Latigo is consistent with Fidante’s strategy of expanding alternatives offerings. Fidante invests in specialist investment managers with differentiated strategies where active investment management skills can deliver attractive results for investors.

Fidante’s specialist distribution and business development expertise will provide Latigo with access to well-suited, long-term global institutional investors including sovereign wealth funds, national pensions and superannuation funds.

Cathy Hales, Global Head, Fidante Partners, commented:
“Latigo’s event-driven investment strategy is highly relevant in today’s investment climate. We are excited by the opportunity to partner with a high-quality team and bring their active investment management skills to the attention of institutional investors in the UK and Europe, in addition to other key markets such as Australia and Japan.

We believe we have found in Latigo a very positive business culture fit with the Fidante team. We admire Latigo’s focus on delivering investment results to their clients and their passion for their investment craft.

This investment and partnership with Latigo is part of Fidante Partners’ global growth plans. We are always striving to offer our clients access to innovative strategies from best of breed boutique managers around the world.”

David Ford, Co-founder of Latigo, added:
“This strategic partnership with Fidante and long-term investment from Challenger allow us to better focus on what we do best – identifying needle-in-a-haystack investment opportunities. Additionally, access to Fidante’s distribution and business development capabilities will help expand our reach to a global base of investors.”

David Sabath, Co-founder of Latigo, said:
“Fidante is a great cultural match for Latigo and we look forward to partnering with them as we position the firm for our next phase of growth.”

ABOUT FIDANTE
Fidante Partners is an international investment management business that partners with specialist asset management firms to deliver compelling opportunities to an international investor base. As a multi-boutique investment firm Fidante builds successful alliances with equity, fixed income and alternative investment managers. The Fidante business model frees investment decision-makers to focus on what they do best: manage client portfolios.

Attracting new international managers is part of Fidante Partners’ expansion plans, both in Europe and the US. The Fidante Partners business model is to take minority stakes in separately branded specialist fund managers; providing the distribution, administration and business support; allowing the managers to focus solely on managing their portfolios. This strong investor alignment is driving superior long-term investment performance.

Fidante has offices in Sydney, London, Stockholm and New York and has A$56 billion in funds under management.1 It is fully owned by Challenger Limited, an ASX-listed investment management firm and regulated life insurer with A$77 billion in assets under management.2

ABOUT LATIGO PARTNERS
Founded in 2005, Latigo Partners is a fund manager that specializes in event-driven investing. The firm’s strategies include distressed securities, special situations and long/short credit and equity investing.

The team conducts in-depth fundamental research to identify securities that they believe contain the most attractive risk/reward relationship in highly-levered capital structures.

They seek to produce attractive risk-adjusted returns while placing a strong emphasis on capital preservation.

Latigo was founded by co-portfolio managers David Ford and David Sabath, each of whom has over 20 years of experience in event-driven investing.