Nexar Capital Group, an alternative investment manager, has acquired Allianz Alternative Asset Management (AAAm) from Allianz France, its majority shareholder, and Allianz Global Investors Europe.

Since 1981, AAAm has been providing its clients with a variety of fund of hedge funds under the leadership of Jean-François Vert, who will transition onto Nexar’s platform along with the AAAm team.

Vert said AAAm’s customers will benefit from Nexar’s proven investment and risk management processes, coupled with the high level of transparency and liquidity demanded by today’s investment community.

The transaction has received requisite regulatory approvals.