Blue Sky to acquire Investment Science hedge fund

Blue Sky Alternative Investments Limited (Blue Sky) is pleased to announce it has entered into an greement to acquire all of the shares in Investment Science Pty Ltd (ISPL), a multiaward winning fund manager with approximately $70 million in assets under management.

ISPL’s key personnel have a strong investment track record and will continue to manage the ISPL funds post acquisition.

The consideration for the acquisition is 100% Blue Sky scrip and will include up front and deferred consideration components, the latter of which will be calculated based on growth in funds under management and the continuation of key ISPL management personnel.

The acquisition of ISPL is consistent with Blue Sky’s strategy of maintaining a broad offering across a number of alternative asset classes, including hedge funds. This deal presents an exciting opportunity to add a high quality team of well-regarded professionals and a successful hedge fund management business to Blue Sky’s alternatives portfolio.

This transaction is subject to shareholder approval in relation to the issue of shares as consideration. The Notice of Meeting and Explanatory Memorandum containing further details of the acquisition will be circulated to Blue Sky shareholders shortly. The company anticipates that the extraordinary general meeting will be held around the end of April with completion of the transaction following shortly after.