Key Takeaways
- • Cantor Fitzgerald has entered a definitive agreement to acquire UBS's O'Connor alternatives investment platform, which manages approximately $11 billion in invested assets across hedge funds, private credit, and commodities strategies, according to a Business Wire release dated May 28, 2025.
- • Upon closing, O'Connor will operate as a distinct alternatives business within Cantor Fitzgerald Asset Management (CFAM) and will report to Bill Ferri, Global Head of CFAM and a 25-year UBS veteran and founding member of the O'Connor business.
- • CFAM and UBS Asset Management will establish a long-term commercial arrangement under which O'Connor capabilities continue to be offered to UBS Global Wealth Management clients, subject to customary due diligence and monitoring.
- • The initial close is expected in the fourth quarter of 2025, subject to regulatory approvals and other customary closing conditions.
- • The transaction would add roughly $11 billion to CFAM's approximately $14.8 billion in assets under management, a significant expansion of the firm's asset management footprint.
Summary
Cantor Fitzgerald announced a definitive agreement to acquire UBS's O'Connor alternatives investment platform, which includes hedge fund, private credit, and commodities strategies with approximately $11 billion in invested assets. According to the company's Business Wire announcement, the acquisition will bolster Cantor Fitzgerald Asset Management (CFAM) and supports the firm's broader growth across its core businesses, including Cantor, its investment bank.
Upon closing, O'Connor's investment and support teams will move to Cantor Fitzgerald. O'Connor will operate as a distinct alternatives business within CFAM and will report to William ("Bill") Ferri, Global Head of CFAM, who spent 25 years at UBS and was a founding member of the O'Connor business. O'Connor describes itself as a leading alternatives platform with more than 25 years of institutional trading experience, emphasizing relative value investing and risk management.
CFAM and UBS Asset Management will also establish a long-term commercial arrangement. O'Connor capabilities will continue to be offered to UBS Global Wealth Management clients, subject to customary due diligence and monitoring, as well as to institutional and high net worth clients globally.
Brandon Lutnick, Chairman of Cantor Fitzgerald, called the acquisition "transformational" for the asset management business. Kyle Lutnick, Executive Vice Chairman, described it as a "high-conviction investment in our future." Ferri said the firm intends to focus on attracting and retaining investment talent, investing in a flexible, unconstrained operating platform, and delivering attractive risk-adjusted outcomes. Aleksandar Ivanovic, President of UBS Asset Management, said UBS prioritized a buyer with complementary capabilities, culture, and leadership, and that Cantor Fitzgerald is "strongly placed" to take the business forward. Blake Hiltabrand, Global Head of O'Connor, said the team sees the move as a pivotal new chapter.
The initial close is expected in the fourth quarter of 2025, subject to regulatory approvals and other customary closing conditions. Cantor Fitzgerald and UBS have said they will work together to ensure a seamless transition for O'Connor professionals and clients. Cantor Fitzgerald, with approximately 14,000 employees, describes CFAM's existing platform as roughly $14.8 billion in assets under management across mutual funds, interval funds, ETFs, separately managed accounts, non-traded REITs, and other private vehicles.
Upon closing, O'Connor's investment and support teams will move to Cantor Fitzgerald. O'Connor will operate as a distinct alternatives business within CFAM and will report to William ("Bill") Ferri, Global Head of CFAM, who spent 25 years at UBS and was a founding member of the O'Connor business. O'Connor describes itself as a leading alternatives platform with more than 25 years of institutional trading experience, emphasizing relative value investing and risk management.
CFAM and UBS Asset Management will also establish a long-term commercial arrangement. O'Connor capabilities will continue to be offered to UBS Global Wealth Management clients, subject to customary due diligence and monitoring, as well as to institutional and high net worth clients globally.
Brandon Lutnick, Chairman of Cantor Fitzgerald, called the acquisition "transformational" for the asset management business. Kyle Lutnick, Executive Vice Chairman, described it as a "high-conviction investment in our future." Ferri said the firm intends to focus on attracting and retaining investment talent, investing in a flexible, unconstrained operating platform, and delivering attractive risk-adjusted outcomes. Aleksandar Ivanovic, President of UBS Asset Management, said UBS prioritized a buyer with complementary capabilities, culture, and leadership, and that Cantor Fitzgerald is "strongly placed" to take the business forward. Blake Hiltabrand, Global Head of O'Connor, said the team sees the move as a pivotal new chapter.
The initial close is expected in the fourth quarter of 2025, subject to regulatory approvals and other customary closing conditions. Cantor Fitzgerald and UBS have said they will work together to ensure a seamless transition for O'Connor professionals and clients. Cantor Fitzgerald, with approximately 14,000 employees, describes CFAM's existing platform as roughly $14.8 billion in assets under management across mutual funds, interval funds, ETFs, separately managed accounts, non-traded REITs, and other private vehicles.
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