The transaction allows Fidante to add Latigo's event-driven investment skills to its investments offerings.

Fidante Partners, an international asset management business with A$56 billion ($43.9 billion) in client AuM, has bought a minority stake in New York-headquartered Latigo Partnersp, a firm specializing in event-driven investments. As part of the deal, the life division of Fidante’s Australian parent, Challenger Limited, has invested into Latigo’s funds.

Financial sums involved in the transactions and the investments weren’t disclosed in a statement issued by the entities today.

Latigo was founded in 2005 by David Ford and David Sabath. Its strategies include distressed securities, special situations and long/short credit and equity investing. The deal with Fidante allows the latter to widen the range of alternative investment offerings. For Latigo’s part, the agreement means that firm can use Fidante’s distribution and business development resources.

“Latigo’s event-driven investment strategy is highly relevant in today's investment climate. We are excited by the opportunity to partner with a high-quality team and bring their active investment management skills to the attention of institutional investors in the UK and Europe, in addition to other key markets such as Australia and Japan,” Cathy Hales, global head, Fidante Partners, said.