CoinShares International announced on Wednesday plans to acquire London-based Bastion Asset Management, strengthening its capabilities in actively managed digital asset strategies.
CoinShares to Acquire Bastion Asset Management in Digital Assets Push
The deal, subject to approval from the Financial Conduct Authority, will see Bastion’s team, strategies and expertise fully integrated into CoinShares’ platform.
The Jersey-headquartered group, which manages around $10 billion in assets, said the move aligns with its strategy to create a one-stop shop for digital asset management.
By combining exchange-traded products with actively managed funds, CoinShares aims to offer investors a comprehensive suite of digital asset investment options.
Jean-Marie Mognetti, chief executive and co-founder of CoinShares, said the acquisition “perfectly aligns” with the company’s long-term vision.
He said: “Having worked closely with Bastion over the course of the last year, we have experienced firsthand the performance of their strategies and witnessed their expertise in systematic digital asset investing. Bastion’s institutional-grade approach and proven track record in quantitative alpha generation significantly enhances our ability to serve sophisticated investors.”
Bastion focuses on quantitative alpha strategies for digital assets. Its chief investment officer, Fred Desobry, and chief executive and co-founder, Philip Scott, will join CoinShares following completion.
Scott said: “Over the last three years we have built a strong market neutral strategy and a broad and growing range of investors. This acquisition will enable us to further scale our investor base and accelerate the build out of our innovative alternative programme.”
CoinShares added that the deal would also support its U.S. expansion, enabling the development of actively managed funds under its registered Investment Advisor status.
