Polar completes acquisition of teams from First Pacific

Polar Capital has completed the acquisition of the International Value and World Value equity teams from Los Angeles-based First Pacific Advisors.

Polar has set up a new joint venture, Phaeacian Partners LLC. It has reorganised two 1940 Act mutual funds - the FPA Paramount fund and the FPA International Value fund - into the Phaeacian Global Value fund and the Phaeacian Accent International Value fund, which are led, respectively, by Pacific's Pierre Py and Greg Herr.   Phaeacian assets under management at the transition, total $545m as at the end of September 2020. "The establishment of Phaeacian Partners is the next step in Polar's strategy to build out our international and global products and our institutional presence in No...