Tuesday, 30 September 2014
Last updated 24 min ago
Sep 8 2010 | 11:32am ET
Private bank Sal. Oppenheim has sold its French fund of hedge funds business to Olympia Capital Management.
Terms of the deal for Altigefi were not disclosed. The sale comes as Luxembourg-based Oppenheim quits France; Altigefi’s four Altipro funds of hedge funds will continue, but Sal. Oppenheim France’s long-only funds will be liquidated. Oppenheim was acquired by Deutsche Bank six months ago.
It is unclear how much money Altigefi currently manager; last year, when Oppenheim took full ownership of the firm, it had about US$800 million. Olympia, also based in France, manages about US$2.2 billion.
Olympia also made clear it may not be done participating in the consolidation of the fund of funds industry.
“We will continue to explore these types of consolidation opportunities when they arise,” CEO Laurent Dupreyon said.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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