Monday, 24 November 2014
Last updated 2 days ago
Mar 4 2011 | 10:40am ET
Credit Suisse Group is poised to buy fund of hedge funds Rock Creek Group.
The two sides are in advanced talks and a deal could come within 10 days, AR magazine reports.
A deal for Rock Creek would give Credit Suisse a substantial institutional fund of funds business. The Swiss bank's current fund of funds business, which has about $10 billion in assets under management, specializes in high-net worth clients, especially those who already patronize Credit Suisse's private bank.
Washington, D.C.-based Rock Creek is headed by Afsaneh Beschloss, the World Bank's former chief investment officer. The firm manages about $5.5 billion.
Last year, Credit Suisse bought a minority stake in York Capital Management. In addition, the bank is the majority owner of Asset Management Finance, which has bought stakes in 21 asset managers, most recently in hedge fund Brigade Capital Management.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...