FS Investments (“FS”), a leading alternative investment manager with more than $24 billion in assets under management, today announced it has entered into an agreement to acquire Chiron Investment Management (“Chiron”), a global multi-asset investment boutique.
Founded in 2015 by industry veterans Ryan Caldwell and Enrico Gaglioti, Chiron employs an active investment approach rooted in quantitative analytics and fundamental research and leverages its expertise in dynamic portfolio construction and asset allocation. Having launched three funds just four years ago, Chiron currently manages approximately $1.8 billion in assets raised across its global distribution platform. Following the close of the transaction, FS will add Chiron’s three funds to its current offerings.
“This is a unique opportunity to diversify our investment management business and expand distribution with a firm that shares our culture, has a high-quality management team and offers a differentiated investment approach,” said Michael Forman, Chairman and Chief Executive Officer of FS Investments. “Together, we will grow our existing fund platforms while helping advisors better serve their clients with forward-thinking, holistic portfolio solutions.”
Following the close of the transaction, Mr. Gaglioti, CEO of Chiron, will join FS in a senior leadership position. Mr. Caldwell, Chief Investment Officer of Chiron, and his team will continue managing all of Chiron’s funds at FS, employing the same investment approach and processes upon which Chiron was founded. Prior to co-founding Chiron, Mr. Gaglioti was a partner at Goldman Sachs & Co., where he served as the Global Head of Equity Sales and as an advisory director of Goldman’s Investment Management Division, among other roles. Mr. Caldwell is well known for his tenure at Waddell & Reed where he co-managed a suite of funds, including the Ivy Asset Strategy, as it grew from $250 million to $40 billion in assets under management.