Monday, 30 March 2015
Last updated 2 days ago
Mar 28 2007 | 3:45pm ET
If you can’t (or don’t want to) raise it, buy it. This week, private equity firm TA Associates took the path to least resistance, buying a minority stake in K2 Advisors, a $5.5 billion fund of hedge funds. Terms of the transaction were not disclosed.
Approximately $100 million of the proceeds will be invested in existing K2 strategies, as well as incubating new strategies. The firm will also broaden ownership to a greater number of K2 employees. K2 management will remain intact and there will be no changes to the firm’s strategy, operations or personnel.
“We have been looking for an institutional quality fund of hedge funds to invest in for a long time, and K2 Advisors is the type of profitable growth company in which TA seeks to invest,” said Roger Kafker, a managing director who will join the company’s board of directors. “K2’s key investment principals have their roots in the hedge fund industry, which gives them a distinctive perspective on managing risk.”
For its part, K2 is looking to expand its investor base to include TA Associates’ investors. “We see a significant number of synergies with TA Associates and its limited partners and look forward to working closely with them,” said William Douglass, a K2 co-founder. “We also see opportunities to selectively expand our franchise and this investment will enable us to actively explore those opportunities.”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…