IAM completes MBO from Fortis

Funded primarily by IAM employees, the undisclosed MBO was also backed by Apax co-founder Sir Ronald Cohen and the Jefferies Group. Launched in April 1989, UK-based IAM was privately owned until purchased by ABN AMRO Asset Management (AAAM) in February 2006. The buy-out follows IAM’s strategic review in the wake of AAAM’s merger with Fortis Investments. IAM’s flagship vehicle, Alternative Investment Strategies Ltd, was the first closed-ended fund of hedge funds to launch on the London Stock Exchange in 1996. “We feel this MBO is the optimal solution for IAM clients and employees and we...