State Street Global Alliance Creates New Investment Advisory Firm

June 6, 2001 ( - State Street Global Alliance, a jointly-owned subsidiary of State Street Global Advisors (SSgA) and the Dutch pension fund ABP, announced the creation of a new investment advisory firm, SSARIS Advisors.

State Street Global Alliance LLC focuses on creating strategic partnerships with specialty asset management firms globally that allow SSgA and ABP to expand their existing investment capabilities.

SSARIS will be based in Stamford, CT and will provide absolute return strategies for institutional and private clients. The group has acquired the assets of RXR Group, Inc., an asset management company with an estimated $335 million in assets under management.

State Street Global Alliance has taken a majority ownership stake in SSARIS, while the former management team of RXR holds the remainder. The new group will register with the Securities and Exchange Commission as an investment advisor and with the Commodity Futures Trading Commission as a commodity trading advisor.