Asset management firm AI Global Investors, a subsidiary of Bermudian-headquartered Alpha Innovations Ltd, has announced a partnership with Down Range Capital Advisors, the latest group to join AIGI’s New York-based asset management platform.

Alpha said Down Range was built on an impressive background, with specialised expertise in community banks and precious metals acquired over more than 20 years.

It added that the depth of the team’s experience in their focus areas had enabled the Down Range team to produce impressive alpha and made them a standout among managers investing in their space.

Bermuda-based Lawrence Newhook, the chief investment officer of Alpha Innovations, said: “What made the Down Range team interesting to us is they have been laser-focused on community banks and precious metals for decades, and it shows. They know the players in their target markets inside and out.

“The fact that they have weathered the recent sector storms with such strong performance is a testament to their ability to take non-consensus views backed by solid research. That’s what we look for - expert-level knowledge that enables a manager to consistently generate alpha.”

Down Range will leverage the AIGI team and infrastructure to further institutionalise their offering.

“Now that we’ve passed the three-year mark, it’s the right time to grow our business, but we didn’t want to take any time away from our research and trading to do that,” explained Brad Rinschler, managing partner and portfolio manager of Down Range.

“Partnering with AI was the perfect solution for us. Their support and infrastructure will allow us to keep our focus on creating strong returns for our investors by adding key resources in areas like business strategy, technology, finance, operations, risk management and investor relations.”

Connor Labozzetta, partner and senior analyst of Down Range, said: “Consolidation in the banking industry has been producing tremendous opportunities for outsized gains for quite some time. It’s a trend that Down Range has benefited from greatly and that we expect to continue.

“There’s a lot more room to put capital to work there and we’re keen to grow our participation in that upside.”

Gene Fisch Jr, AIGI’s chief financial officer, added: “Down Range’s deep knowledge of the banks and precious metals sectors gives them a material leg up relative to their peers. Their investors also enjoy a diversification benefit to their portfolios as Down Range’s correlation to benchmarks has historically been low to negative.”

AI said it had curated an offering that spanned a diverse range of public and private market strategies.

Nicole Biernat, chief operating officer of Alpha Innovations, said: “The unifying factor of our funds is the focus on generating sustainable alpha. Our interest is to assist managers who demonstrate a clear value proposition to scale their businesses and meaningfully contribute to the wealth of our investors.”