Lehman Buys Stake In Spinnaker

Jan 31 2007 | 11:15am 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.


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of