NETHERLANDS – Rotterdam-based asset management group Robeco is to acquire Transtrend, a hedge fund manager and futures trading company, as part of its strategy to expand into the alternative investment market, particularly in the area of single-manager hedge funds.

Under terms of the deal, Robeco will take an initial 49% shareholding with the intention of increasing it to 100% within five years.

Transtrend started life as a research project within a Rotterdam-based company that traded in grains and oilseeds, but following a management buyout in 1993, it became an independent company and expanded into quantitative hedge fund management and futures trading. It currently has more than €310m under management.

Robeco intends to increase its presence as a player in the alternative investment market through organic growth, acquisitions and alliances.

At present it manages €1.3bn in hedge funds divided over nine products and six strategies – long / short equity, equity market neutral, convertible bond arbitrage, merger arbitrage, fixed income arbitrage and multi-manager / multi-strategy.

Says Géry Daeninck, Robeco’s CEO: “Transtrend fits well with our policy of expanding our supply of alternative investment products.”