German private bank Sal Oppenheim has bought significant stakes in Attica Alternative Investments and Integrated Asset Management, both Lond...

German private bank Sal Oppenheim has bought significant stakes in Attica Alternative Investments and Integrated Asset Management, both London-based hedge fund providers. Although financial details were not disclosed, Sal Oppenheim said that it had acquired a 49.9 per cent stake in AAI and a 27 per cent stake in IAM, adding a further €1 billion ($1.28 billion) to its hedge fund assets. The cologne-based bank has co-operated with AAI and IAM for several years. Sal Oppenheim and AAI launched two fund-of-hedge funds in Germany in 2004, when hedge funds were first legalised. It has a structured products partnership with IAM in Italy. Both entities will continue to be run a separate entities and will maintain their own brands. Sal Oppenheim already has €200 million invested in its own fund-of-hedge funds.