Asset Alliance buying arbitrageur.

Investment News, February, 2001

*Asset Alliance Corp., a New York investment holding company, is expected to announce the acquisition of Zola Capital Management LLC in San Francisco. Fitting in with Asset Alliance's theme of buying alternative-investment shops, Zola utilizes equity-linked arbitrage strategies to take advantage of market volatility and price anomalies between correlated securities.

The deal, which will bring combined assets of Asset Alliance's affiliated management companies to $2.3 billion, follows the announcement last week of the company's acquisition of P/E Investments LLC in Boston. P/E Investments is a commodity trading adviser. According to sources, Asset Alliance, founded in 1996, is expected to go forward with a long-delayed initial public...

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