Prime Broker, Administrator Concept Sells Research Group

Oct 28 2010 | 4:08am ET

Institutional brokerage and hedge fund service provider Concept Capital is selling it research division to MF Global Holdings, the Man Group’s former futures brokerage arm.

Garden City, N.Y.-based Concept agreed to sell the Washington Research Group to MF Global, which spun off from Man in 2007. Terms of the deal were not disclosed.

“We believe that the purchase of the Washington Research Group by MF Global Holdings Ltd. will best assure the future and growth of this successful policy research company,” said Robert Moore, senior managing director at Concept Capital. “Concept Capital remains focused and dedicated to the hedge fund services business, capital markets, portfolio analytics, risk management, and fund administration segments of our business.”

Washington Research is based in Washington, D.C.

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