ABC had created the subsidiary in the third quarter of 2014 to help tackle France’s financial regulation.
As per the filings with the Companies Office, since November, Quartys has received close to €33m. The latest filings show that ABC Arbitrage put €20m and €5m into the subsidiary in February and March respectively, reported The Independent.
The company had established Quartys to expand its offering to clients and remain competitive.
While confirming the establishment of the subsidiary, CEO Dominique Ceolin had said that their deals with French firms turn out to be some of their most expensive works owing to the country’s regulations in specialized financial sectors such as derivatives.
Ceolin had further stated that the new subsidiary had allowed the company to work on specific financial products that the firm would otherwise have not been able to engage in if it operated solely as a French company.
The company has also decided to open a similar subsidiary in Singapore owing to the same reason.
Established in 1995 and headquartered in Paris, the hedge fund operator specializes in providing services such as third-party asset management services including management of arbitrage operations of mergers and acquisitions.
In 2014, ABC recorded net income of €18.8m in comparison to €10.1m in 2013, with its revenue increasing from €28.8m to €46.6m.
