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GAM Partners With Swiss Commodities Specialist

Editorial Staff

20 September 2024

Zurich-listed GAM Holding has formed a strategic alliance with Galena Asset Management, which specialises in commodity finance.

Galena is also a fully owned and regulated investment subsidiary of Switzerland’s Trafigura Group, the commodity trading and logistics business.

Under the arrangement, GAM is exclusive global distributor of Galena’s existing commodity investment strategies. 

“We believe commodities are a key asset class for the future, offering attractive return potential and diversification benefits,” Elmar Zumbuehl, group CEO at GAM, said. 

Galena’s offerings cover trade finance, multi-strategy and private equity. 

GAM has been busy reconfiguring its business in recent months. In July, for example, it said it was shifting its management company activities in the UK, Ireland and Luxembourg to Apex Group, the financial services business.

In August 2023, after moves by UK-listed Liontrust Asset Management to buy GAM fell through, GAM agreed with investment groups NewGAMe and Rock Investment SAS to extend immediate short-term financing of SFr20 million to cover GAM’s liquidity needs. Rock is a French-incorporated entity that is owned by NJJ Holding, the personal holding company of Xavier Niel, a wealthy French businessman. It is part of the NewGAMe group of investors consisting of NewGAMe SA and Bruellan SA.