Alternative investment manager Hattaras Funds has entered into a definitive agreement to acquire a controlling interest in Alternative Investment Partners, which offers a line of open-end hedge funds-of-funds called AIP Mutual Funds.

Hattaras CEO David B. Perkins will become CEO of the new company, to be rebranded under the Hatteras umbrella. Lee Schultheis, CEO and CIO of AIP, will remain with the company as  president of the division.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.