Hot off an IPO, the company bolsters its team acquiring another funds-management firm with ten funds under management
Moelis acquired Armada Funds Management in a $29.5m deal, funded by $9.8m in cash and shares of the company.
The acquisition creates an investment management company with more than $2bn in assets under management across a range of asset classes. Armada manages about $800m in assets in ten unlisted funds.
According to Hall & Wilcox, Armada’s two founders and principals will assume leadership roles in Moelis, which recently raised $60m through an IPO in April.
The Hall & Wilcox team was led by John Hutchinson, partner and corporate and commercial section head. It also included partner Chris Brown, senior associate Caroline Raw, and lawyers Max Chung and Rebecca Schot-Guppy.
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