US investment manager Third Avenue Management has joined GemCap Investment Funds UCITS platform in Ireland, pushing assets under management on the platform to over $1 bn (€900 mln).
The GemCap platform, which is managed by Gemini Capital Management, launched in October 2016 and was appointed by Gemini Investment Funds (GIF) in December 2016.
'Since we launched GemCap, our Irish management company, we have seen signs that fund platform and ManCo markets are burgeoning in Ireland,' commented Stuart Alexander (pictured), CEO of Gemini Investment Management. 'GemCap is ideally placed to capitalise on the growth being generated by new and existing UCITS managers. Our team in Dublin is looking forward to driving significant growth in the coming years.'
The Third Avenue Real Estate Value Fund (UCITS) and Third Avenue Value Fund (UCITS) merged into the GIF platform in early June 2017. Gemini Investment Management Ltd (GIML) will act as UK Distributor for the fund.
'We are excited about our partnership with Gemini Capital Management,' says Kristina Fox, head of sales and national accounts at Third Avenue. 'This relationship allows Third Avenue to focus on our core equity portfolio management expertise while leveraging the reach and scale of Gemini’s distribution capabilities.'
'We are delighted to welcome Third Avenue to the platform as our first major US investment manager. As pioneers of deep value investing, we believe their proposition is highly appealing in the UCITS marketplace and look forward to a strong long-term partnership,' concluded Conor Hoey, head of sales and relationship management.
