Monday, 30 March 2015
Last updated 15 min ago
Mar 29 2011 | 2:00pm ET
The Man Group is buying Ore Hill Partners, a New York-based credit hedge fund it's owned half of since 2008.
London-based Man said that the US$2 billion would be integrated into GLG Partners, which Man bought last year. The deal is expected to close in the second quarter.
"We are extremely excited to add Ore Hill to the GLG platform," Raffaele Costa, head of North America and Europe sales and Man and GLG's former marketing chief, said. "This solidifies our position as a leading credit manager in addition to our already strong equity strategies. Ore Hill is a well-established manager, with a strong track record over nine years and they will spearhead our expansion into U.S. credit."
Ore Hill, which specializes in event-driven investments and which has $800 million in hedge fund assets under management, will remain an independent investment adviser that will be managed as part of GLG.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…