SG Asset Management, the French fund manager with more than €262bn ($300.2bn) under management, has created a new business unit specialising in alternative asset management.

The unit, SG Asset Management Alternative Investments, will regroup almost all of the firm's alternative investment business, and had €18bn in assets under management at the end of April, employing 120 alternative investment specialists. Philippe Bosse will run the new unit which will have three main areas of focus.