Financial service news : Canadian investment service company ReSolve Asset Management has acquired Ontario-based alternative investment manager Acorn Global Investments for an undisclosed price.

Acorn Global Investments, which has around $210 million in assets under management, specializes in managed futures and macro strategies. The alternative investment manager and ReSolve Asset Management are said to have a long-standing and close relationship.

Commenting on ReSolve acquisition of Acorn, Adam Butler – CEO of ReSolve, said: “We have worked closely with Acorn for many years. Their strong combination of investment research, execution and operational capabilities lay the foundation for our next phase of growth.

“The Acorn team’s long history of significant experience in crisis-alpha oriented managed futures programs empowers an important extension of ReSolve’s strategy lineup.”

As part of the deal, employees of Acorn Global Investments will be absorbed into ReSolve Asset Management.

Jason Russell – president of Acorn Global Investments, commenting on ReSolve acquisition of Acorn, said: “This amalgamation simply formalizes many years of a tremendously productive partnership. The two teams share similar philosophies, interests and business goals. Yet, our areas of focus and experience are diverse and complementary. We are excited to combine resources, eliminate or reduce redundancies and, most importantly, produce the best results possible for our investors.”

  Acorn Global Investments, Adam Butler, Canada, Financial service news, Jason Russell, ReSolve Asset Management