Saturday, 4 July 2015
Last updated 20 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…