Steiner eyes recruitment drive after SVGIM/Hansa deal

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SVG Investment Managers plans to up its recruitment efforts after the company is acquired by Swiss-based investment firm Hansa Aktiengesellschaft later this year.

It was announced yesterday that Hansa will become the majority stakeholder in SVGIM after buying SVG Capital’s stake in the firm, subject to regulatory approval.

SVGIM chief executive Adam Steiner says the firm expects to add to its research and marketing staff after the deal completes to help strengthen the firm’s presence in the UK discretionary and retail-advised markets.

The hires will be funded by the proceeds of SVGIM advising Hansa on a portion of its assets under management of more than $1.8bn.

Steiner says: “We are going to be reinvesting the returns we get from that into new research people and new marketing people, helping us to maintain the fundraising momentum we’ve had.

“Recruitment is definitely on the agenda over the next 18 months.”

The addition of marketing resources will be used to bolster the firm’s push into its target markets. This will come after the company rebrands from its current name to a new, as-yet-undecided label.

“If you look at the track records of our funds, they are strong but I think what holds us back is that we are relatively unknown. The combination of rebranding and having a bigger inhouse marketing team will help,” Steiner says.

“We don’t want to retain the SVG name any longer than we have to after the completion as it would just cause huge confusion in the marketplace. The Hansa name is already taken in the UK so we’ve been inviting suggestions from clients and have some ideas of our own. I would anticipate the rebrand happening this year.”

The chief executive also says the firm will consider adding to its range – which currently comprises the SVG UK Focus fund and the Strategic Equity Capital investment trust – “in due course” but adds that it is too soon to talk about specific ideas.

“At this stage it’s all about making sure stakeholders become comfortable with the new structure and understand that the team is staying the same,” Steiner says.