Friday, 27 February 2015
Last updated 5 hours ago
Mar 4 2011 | 10:12am ET
Japan's Mizuho Financial Group is to buy the lion's share of hedge fund research outfit Eurekahedge, it said yesterday.
Mizuho Corporate Bank will pay between US$20 million and US$30 million for 95% of Singapore-based Eureka, which publishes a series of widely-followed industry indices, according to published reports. The terms of the deal were not disclosed.
The acquisition by Japan's second-largest asset manager follows its founding in October of a hedge funds business.
Eurekahedge's founders will retain a 5% stake in the company and continue to manage the firm.
Eurekahedge was established in 2001; the company employs about 40 people.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…