Asset manager Wave Financial plans to acquire more distressed companies in the bear market following its first acquisition in Europe
Wave’s CEO David Siemer explains how the firm is using the bear market to chase cheap deals.over $1 billion in assetsThe firm announced its intention to acquire Swiss-based investment firm Criptonite Asset Management in a press release on Thursday.
The terms of deal were not disclosed, but Wave expects the acquisition to be completed by the end of 2022.in place. Criptonite launched several Actively Managed Certificates of Wave“This acquisition is Wave Financial’s first outside the US but will not be our last as we are actively looking for other partners to bring our diverse set of digital asset funds and solutions to accredited investors around the world,” said Matteo Dante Perruccio, president international at Wave, in the release.
Siemer is exploring deals with other asset managers as well as distressed exchanges and lenders that are struggling in the bear market.
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