Tuesday, 23 September 2014
Last updated 1 hour ago
Sep 20 2010 | 8:59am ET
The man behind the biggest act of consolidation in the hedge fund industry says that mergers and acquisitions activity in the sector is set to pick up—with a possible surprising twist.Man Group CEO Peter Clarke, who engineered his firm’s US$1.6 billion buy of GLG Partners, set to close within weeks, told Reuters that pension funds are likely to be major players in the consolidation game, as the bigger managers get bigger—and start closing their funds to new investors once again.
“I think there will be linkage between some of the big pension funds and big hedge funds,” Clarke said at a Financial Services Authority conference in London, with the former “trying to take stakes.”
“It will be on the sovereign wealth model,” he said.
But while Clarke expects more M&A activity in his industry, don’t expect him to take part. He said that Man had no plans for more acquisitions in the wake of the GLG deal.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.