Tuesday, 26 May 2015
Last updated 20 min ago
Apr 12 2010 | 7:42am ET
Partners Group has sold its hedge fund business—a US$700 million managed accounts platform—to New York-based Sciens Capital Management.
Under the deals, Sciens gets Partners’ Guernsey-based Partners Group Fund Services, the Financial Times reports. Sciens plans to shift up to $3.4 billion of its own $4.5 billion hedge fund business to the Partners platform.
The move follows Partners’ spin-off of its alternative beta strategies team in April. The Zug, Switzerland-based firm, which has some 25 billion Swiss francs (US$23.5 billion) in assets under management, aims to refocus on its private equity and other core businesses, and slough off other businesses, including hedge funds.
Sciens’ acquisition of the Partners business will make it one of the largest independent managed account firms in the world, according to the FT.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…