Saturday, 30 August 2014
Last updated 1 day ago
Nov 24 2010 | 5:04am ET
To date, no one appears interested in buying troubled asset manager Gartmore Group. But one hedge fund manager was interested in buying a large stake in the London-based firm, albeit as secretly as possible.
The mystery buyer of a 4.91% stake in Gartmore is Swan Street Partners, a family office for the family of John Zwaanstra, the founder of hedge fund Penta Investment Advisers. Swan Street's United Industrial Services disclosed a 4% stake in Gartmore last week, but no information about the company was available.
The secrecy led Gartmore to demand UIS provide more information. Swan Street is controlled by John Zwaanstra's brother, Todd, who also worked at Penta.
The nearly 5% stake in Gartmore is enough to make Swan Street the fourth-largest shareholder of the firm.
Gartmore has been seeking a buyer for two weeks. The firm was rocked earlier this month when Roger Guy, its star hedge fund manager who ran some 17% of its total assets, announced his plans to retire next year.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...