Capital G Acquires Orion Investment
Capital G Investments Limited announced today [May 3] the 100% acquisition of the issued share capital of Orion Investment Management Limited.
Orion, a Bermuda based investment management boutique, was founded in 2006 and currently consists of four investment professionals – Mr. Eric Hirschberg, CEO, Mr. Andrew Marsh, Chief Investment Officer, Dr. Eugene Durenard, Chief Risk Officer and Dr. Niklas Traub, Head of Quantitative Research.
Pictured below left to right: Andrew Marsh, CIO, Orion, Joel Schaefer, President & CEO, Capital G Investments Limited, Eric Hirschberg, CEO, Orion, Ian Truran, President and CEO, Capital G Bank and Capital G Trust Limited, Dr. Eugene Durenard, CRO, Orion
Orion’s executive bring extensive experience in managing, advising and analyzing risk having held senior positions in some of the world’s leading international investment institutions such as Goldman Sachs, Salomon Brothers, Credit Suisse, Berkshire Hathaway, Merrill Lynch, Fuji International Finance and Mizuho Bank.
The Orion team will join Capital G Investments Limited to complement the areas of product management, research and product development and to broaden Capital G’s Institutional channel.
Mr. Joel Schaefer, President & CEO for Capital G Investments stated, “We are extremely pleased to welcome such highly qualified experts to our investment team. Orion has been managing the Capital G Investments’ Global Voyager Short-Term Fixed Income Fund using the SafeHarbor strategy for the past 2 ½ years with excellent results over the period. The acquisition of Orion significantly enhances our platform for institutional clients seeking top-tier investment solutions and further expands our business activities. This acquisition is consistent with our strategic goal to build a global asset management business that can best serve clients and build long-term, trusted relationships.
Mr. Schaefer added, “We believe this transaction has considerable benefits for both Capital G Investments and Orion’s clients and professional staff. We expect there to be significant opportunities for cross selling and distribution of investment products into Capital G’s client base.”
Ian Truran, President and CEO of Capital G Bank Limited and Capital G Trust Limited said, “Today’s announcement is another example of our continued evolution into a broadly diversified financial services company. In each transaction we have completed we have sought out high quality partners and institutions with like-minded values and are pleased to have the Orion team as the latest members of the family. Our clients have entrusted us with over $1.0 billion in discretionary assets across a broad range of investment mandates.”
Mr. Eric Hirschberg, CEO of Orion stated “This transaction is complementary on a number of fronts, and we are pleased to have the opportunity to expand the institutional business under the Capital G banner.”
The Orion transaction received formal approval from the Bermuda Monetary Authority on the 13th of April, 2011. Orion will continue to operate from its offices located 32 Parliament Street and can be reached at 295-5600 ext 110 or info@orion.bm.
