Wednesday, 26 April 2017
Last updated 9 min ago
Feb 3 2010 | 11:54am ET
The Financial Times has bought Medley Global Advisors, a macroeconomic policy intelligence company that counts many hedge funds among its clients.
Terms of the deal were not disclosed, but MGA’s assets were estimated to be about US$7.3 million at the end of last year. MGA was founded in 1997 by Richard Medley, a former political strategist to hedge fund honcho George Soros, and has about 45 employees.
The FT, which is owned by educational publisher Pearson, is seeking to shift more of its business into premium subscription services and away from advertising-based publications, which have taken a big hit during the recent financial crisis. The company said that MGA’s core subscribers, among them the world’s top banks, hedge funds and money managers, had maintained their subscriptions to MGA.