Mariner absorbs Concordia as hedge fund consolidation gathers pace

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Hedge fund consolidation continues

Mariner Investment Group is taking over the investment teams and operations of multi-strategy hedge fund Concordia Advisors.

Concordia manages around $1 billion in relative value-oriented strategies in the interest rate, credit and equity markets.

The company's 18 investment professionals, led by CEO Basil Williams, will join Mariner following the merger, with Williams becoming Mariner's deputy chief investment officer.

Concordia's portfolio managers – Arun Puri and John Eckert, who run the G10