Sunday, 21 December 2014
Last updated 10 hours ago
Dec 7 2010 | 1:14am ET
The Carlyle Group isn't the only private equity heavyweight dipping its toes into hedge fund waters this week.
Apollo Global Management said it would take a 40% stake in Australia's HFA Holdings, which owns Lighthouse Investment Partners. The two firms will continue to operate independently, but Apollo will now distribute Lighthouse's funds of hedge funds and managed account products.
New York-based Apollo is paying $75 million to buy the convertible notes in HFA. Lighthouse has about $4.5 billion in assets under management, Apollo has more than $50 billion.
"Lighthouse, throughout its long history, has proven to add significant value to institutional portfolios, most recently with the development of its proprietary managed account program, which we view as a clear differentiator in the marketplace,” Apollo founder Leon Black said. “We are extremely impressed with Lighthouse’s management team and its unique business model, which we believe is highly complementary to our current product offering and broadens our comprehensive range of investment solutions for our clients."
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.