Pacific Current Group (ASX:PAC) will launch a new US boutique investment firm called GQC Partners LLC.
The company says that the majority stakeholder in CQG will be Rajiv Jain, who used to be the lead portfolio manager of Vontobel – an asset management firm that has a strategic alliance with ANZ Bank.
Pacific Current will invest up to $5.5 million in GQG and retain a minority equity interest.
The company also says that GQG will use the institutional sales and marketing capability of Pacific Group in North America and Australia, and is evaluating distribution partnerships in different geographies.
Pacific Group reported a net loss of $10 million at 31 December 2015.