Gam has agreed to acquire UK-based hedge fund manager Cantab Capital Partners in an effort to diversify its active management capabilities.
Gam said the acquisition of Cantab, which had some $4bn (£3bn) in assets under management at the end of May, would allow the Switzerland-based asset manager to launch its Gam Systematic platform.
This will focus on quantitative investing across long-only and alternative strategies.
“By moving into the growing segment of scaleable systematic investing, Gam takes an important step to deliver on its long-term objective to expand and diversify its active asset management business,” the company said.
“Leading systematic strategies are attracting substantial allocations from investors globally due to their compelling returns and their rigorous, disciplined investment processes.”
The purchase is subject to regulatory approval and expected to close in the second half of 2016.
Gam appeared under pressure earlier this month, when it issued a profit warning in advance of its half-year results.
The company warned underlying profit before and after tax for the first half of 2016 was “likely to decline by approximately 50 per cent” from the amount reported a year before.
Gam said this decline was mainly driven by a fall in performance fees, but stressed it was continuing to “expand its core investment management capabilities and offerings through strategic and financially compelling acquisitions”.
In May the firm announced its planned acquisition of UK-based active equity house Taube Hodson Stonex.