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

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note