ING Investment Management Americas, the US asset management arm of ING Group, has taken a minority stake in Lincoln Vale, an alternative asset investment firm with headquarters in the Bost
ING Investment Management Americas, the US asset management arm of ING Group, has taken a minority stake in Lincoln Vale, an alternative asset investment firm with headquarters in the Boston suburb of Lincoln, Massachusetts, and an office in London.
In a statement, ING said the strategic relationship with Lincoln Vale would include it making substantial capital commitments to Lincoln Vale fund launches, and becoming a primary distributor of Lincoln Vale funds worldwide. Terms of the deal were not disclosed.
Lincoln Vale was established in 2005 by Phil Cooper, a former partner with Goldman Sachs and founding partner and head of Goldman’s private equity group, and Katherine Priestley, a London-based alternative asset manager.
Lincoln Vale’s product range includes specialty hedge funds, private equity funds and structured products. The firm says its investor base consists of very sophisticated institutional and non-profit investors, multi-family offices and substantial individual investors.
ING Investment Management manages more than USD550bn in assets and is active in 30 countries worldwide. According to Paul Gyra, an executive vice-president and head of alternatives at ING, the Lincoln Vale deal is the first time the business has taken a minority stake in a hedge fund manager.
Gyra told the US publication Investment News that ING Investment Management plans to look for stakes in other small alternative managers in order to be able to offer a broader range of alternative products beyond the strategies it manages internally.