AAC takes 50% stake in AIP

Asset Alliance Corporation is planning to focus further on retail invested hedge funds, by taking a 50% equity stake in Alternative Investment Partners (AIP). Its 14th manager acquisition, the purchase places AAC in equal control of the firm with its founding partners, Steven Samson and Lee Schultheis.

AIP is a New York-based mutual fund adviser. Its Alternative Strategies Funds are a family of mutual funds. To extend the fund's research capabilities, AAC's partner, Trust Advisors, will serve as