Thursday, 18 December 2014
Last updated 1 min ago
Oct 20 2010 | 2:40am ET
The founders of BlueBay Asset Management are poised to enjoy their second eight-figure payday of the year following the sale of their firm to the Royal Bank of Canada.
Hugh Willis and Mark Poole, who own a combined 17.3% stake in the London-based hedge fund, will get US$65 million apiece as part of the RBC deal, the London Evening Standard reports. BlueBay, which manages US$40 billion, agreed to be acquired by RBC this week for more than US$1.5 billion.
In February, Willis and Poole netted £21 million each selling a combined 13 million shares.
RBC’s agreement calls for the bank to pay £4.85 per share for BlueBay, a 30% premium to the firm’s closing share price on Friday.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.