Polar Buys Long-Only Manager HIM

Sep 16 2010 | 1:23pm ET

A wave of consolidation has been predicted for the alternative investments industry for years, but it looks more and more like this month is the tipping point.

Yet another acquisition has been announced, this time Polar Capital’s buying HIM Capital Holdings. Terms of the deal were not disclosed, other than to say that Polar would pay for the former Hiscox Investment Management with cash and shares.

HIM manages about US$230 million in long-only financials funds. Polar boasts US$2.6 billion in assets under management.

Polar CEO Tim Woolley hailed his firm’s first-ever acquisition as “a unique group of highly-experienced fund managers and a balanced portfolio of long-only funds with outstanding track records.”

“The acquisition is in line with the group’s ambition to accelerate growth by attracting new investment talent and building sector-specialist platforms from which we can develop the business and enhance returns to our shareholders,” Woolley added.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

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

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.