Gartmore widens strategy horizon with Riverview

Gartmore has broadened its alternative investments strategy from single manager to funds of funds following the purchase of New Jersey boutique Riverview International for an undisclosed sum.

Until now, Gartmore has only launched single manager hedge funds, and runs about $2.3bn in seven hedge portfolios.

Riverview, set up in 1999 with about $360m in assets mainly for institutional clients, runs a fund of hedge funds product and is expected to be renamed Gartmore Riverview as a result of the acqui