Hong Kong-based conglomerate Noble Group has sold its Noble Investments arm to Swiss-based Horizon21 Alternative Investments. While the t...

Hong Kong-based conglomerate Noble Group has sold its Noble Investments arm to Swiss-based Horizon21 Alternative Investments. While the terms of the deal were not disclosed, it is believed to be the biggest acquisition of a Hong Kong based alternative investment house since PMA fell to Japan’s Sparx Asset Management for $226 million. Although its corporate parent is in Hong Kong, Noble Investments has strong links to Switzerland, with its founder Patrick Arreger still based there. Both Mr Arreger and Stewart Aldroft, Noble Investment’s Hong Kong based managing director, will move to Horizon21. Noble Investments’ model is to work as a bridge between investors and alternative investment specialists, such as Winton Capital Management and the Diapison Commodities Fund. Horizon21 was founded in 2004, and currently has $6.5 billion in assets under management across its three business units. Noble Investments was founded in 2001.