The RMF investment management business of UK-listed hedge fund company Man Group has made a substantial investment in the US investment business Quantek Asset Management, adding to other recent moves by Man.

Quantek Asset Management, a subsidiary of Miami-based Bulltick Capital Markets, has received what it describes as a substantial long-term strategic investment into the Quantek Frontier Fund from RMF, the Swiss-based investment manager of Man Investments.

"The addition of RMF as a strategic investor in the Quantek Frontier Fund is a welcome development," says Bulltick managing partner Alberto Franco, according to Hedge Week. "RMF's commitment to Quantek demonstrates its confidence in the investment team's ability to succeed in the evolving markets of Latin America."

Quantek Asset Management has offices in Argentina, Brazil and Mexico, and currently manages more than $1 billion in Latin American-based strategies.

RMF, which specialises in hedge funds and convertible bonds and also has offices in London, New York, Singapore and the Bahamas, was launched in 1992 and currently manages $28 billion in assets.

Late in March, Man Group agreed to buy half of US debt manager Ore Hill Partners LLC to take advantage of "significant opportunity" in credit markets.

The deal will be financed with $195 million in cash and $40 million in new Man shares. In addition, Ore Hill will take a 50 per cent stake in Pemba Credit Advisers, Man's European credit manager unit.