Tortoise acquires UK real asset manager
Leawood, Kansas-based asset manager Tortoise Investments has acquired UK shop Ecofin Limited, which specializes in infrastructure, sustainability and energy investing.
The deal allows Tortoise, which specializes in energy investing, to broaden its client base and expand its focus on sustainable infrastructure investing, according to Michelle Johnston, senior managing director and chief strategy officer at Tortoise.
Financial terms of the deal were not disclosed.
Founded in 1992, London-based Ecofin offers a variety of strategies including long-only, long/short, growth and income, impact, and energy transition. Some of the firm’s investment funds are available only to qualified investors.
Tortoise Investments is comprised of Tortoise Capital Advisors, Tortoise Credit Strategies and Tortoise Index Solutions. As a whole, Tortoise Investments managed $20.2 billion in assets at the end of October.
Hoff off, Karam on
Fidelity has added a manager to two of its high yield funds as it prepares for the retirement of two veteran investors.
Hoff was manager of the Fidelity High Income fund and the Fidelity Series High Income fund.
Conti was a manager on the Fidelity Total Bond fund, Strategic Advisers Income Opportunities fund, Fidelity Advisor High Income fund, Fidelity Short Duration High Income fund and the Fidelity Focused High Income fund.
At the time the managers' retirements were announced, Fidelity also appointed Michael Weaver to both the funds run by Hoff and a number of those run by Conti.
It has now further bolstered two of those funds, by adding Alexandre Karam as a manager.
The Fidelity High Income fund is ranked 19 out of 151 High Yield funds tracked by Citywire for three-year total returns to the end of October. Over that time it returned 21.1% compared to the average High Yield fund, which was up 16.5%, and the ICE BofAML US High Yield Master II Constrained index’s 21.3%.
'This appointment further reinforces this team culture in which, we believe, the best investment ideas are surfaced and communicated throughout our fixed-income funds,' a Fidelity spokesman said.