Australia and UK-listed Henderson continues Australia buildout through acquisition of alternatives firm.

Henderson Global Investors, the Australia and UK-listed fund management firm, has agreed to acquire 100 per cent of H3 Global Advisors, the alternative investment management firm with operations in both Australia and the UK.

H3 Global Advisors has around A$342 million in assets under management as at 30 September 2013. H3, founded in 1996, is run by Andrew and Mathew Kaleel and specialises in commodities strategies. Financial terms of the deal were not disclosed. The announcement came shortly after Westpac-owned Ascalon Capital Managers sold its 45 per cent stake in H3 to Henderson. 

"Following a successful partnership with Ascalon, the opportunity to work within a global business will provide us with the prospect to realise our long-term objectives. Our boutique structure has served us well, however we are looking forward to being able to focus on investing and providing solutions for our clients," said Kaleel in a statement.

Henderson is seeking to grow its presence in Australia though a "buy and build" approach. The firm manages some A$123 billion in assets worldwide as at 30 September 2013.