Sunday, 30 August 2015
Last updated 1 day ago
Jan 31 2007 | 10:15am ET
Lehman Brothers is getting in on the hedge fund shopping spree.
Just months after rival Morgan Stanley bought stakes in four hedge fund firms, Lehman is buying a 20% share of $5 billion London emerging markets hedge fund Spinnaker Capital Group. The firm said it expects to boost its stake in Spinnaker even further, to 25% by the end of the year.
Lehman did not disclose how much it was paying for the stake.
Spinnaker, which has $5 billion of assets under management, invests in multiple asset classes in emerging markets in Asia, Latin America, Eastern Europe, and the Middle East.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…