BlueBay Founders Net £42 Million In Share Sale

Feb 23 2010 | 7:20am ET

The founders of BlueBay Asset Management have cashed in some of their stakes in the London-based credit hedge fund shop.

Hugh Willis and Mark Poole each sold 6.5 million shares, earning each £21 million. The sale reduced their combined stake in BlueBay to 17.3%.

The firm said both men would use some of the proceeds to invest in new BlueBay funds, and both have agreed not to sell any additional shares for at least a year.

“The principal purpose of the placing is to enable Mr. Willis and Mr. Poole to continue to make available seed capital for BlueBay fund launches over the coming years,” BlueBay said in a statement.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of