UBS Asset Management has agreed to sell its single manager hedge fund, private credit and commodities platform, O’Connor to Cantor Fitzgerald.
Aleksandar Ivanovic
The move will see O’Connor’s investment and support teams transferring to Cantor Fitzgerald’s Asset Management (CFAM) division upon closing.
Moreover, the sale will also see O’Connor’s six investment strategies coming under Cantor Fitzgerald’s platform, which equate to approximately $11 billion in assets under management.
“Our priority has been to select a buyer with complementary capabilities, culture and team, and we believe that Cantor Fitzgerald is strongly placed to take the O’Connor business forward,” said Aleksandar Ivanovic, president of UBS Asset Management.
“In deciding to sell O’Connor, we considered a number of factors, including its strategic fit and growth potential within UBS, and have been guided by the best interests of investors.”
The firm has said that it will work closely with Cantor Fitzgerald to ensure a smooth transition for its clients, with a long-term commercial arrangement set to be established between the two firms from the move.
Bill Ferri, global head of Cantor Fitzgerald Asset Management, said: “Acquiring the O’Connor business is a transformational opportunity for CFAM to deliver world-class hedge fund, private credit, and commodities investments to clients globally.
“We believe our knowledge of and experience with O’Connor uniquely positions us to grow this business, focusing on attracting and retaining investment talent, investing in a flexible, unconstrained operating platform, and delivering attractive risk adjusted outcomes and best-in-class client service.”
The transaction is expected to close in Q4 2025, subject to regulatory approvals and closing conditions.
The sale follows similar developments for UBS, which in March made a shock exit from the outsourced trading game. In May, Clear Street announced that it had hired UBS’ former outsourced trading expert, Morgan Ralph, to lead the firm’s newly launched outsourced trading platform.