Man Eyes Asia Hires And Investments, Not Acquisitions

Feb 22 2011 | 11:31am ET

The Man Group plans to grow in Asia organically, adding fund managers and pouring more money into the region, rather than seeking to acquire an existing regional powerhouse, CEO Peter Clarke said.

Clarke, in an interview with the German business newspaper Handelsblatt, said his firm would seek no big acquisitions in Asia. The statement jibes with previous proclamations from the world's largest publicly-traded hedge fund firm that, following its purchase of GLG Partners last year, it would not be in the market for any other blockbuster deals.

Instead, Clarke said that Man planned to grow closer to its Asian clients by investing more money in the region and by hiring teams of managers there.

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