By buying EverBank Financial, the insurance and retirement savings behemoth will gain billions of dollars in low-cost deposits and access to many new lending products that it can offer to millions of clients.
LongTail Alpha plans at least two strategies that may be available for clients in separate accounts or funds.
The acquisition enables Zurich-based GAM to introduce a computer-driven trading system focused on long-only and alternative strategies, the fund manager says.
The asset management industry's involvement in the digital advice space continues to deepen, as firms focus on providing institutional solutions for advisors.
Blackstone will shutter a mutual fund that allocates money to hedge fund managers following a large redemption by the vehicles main backer, Fidelity.