Tuesday, 24 November 2015
Last updated 1 hour ago
May 3 2011 | 1:30pm ET
French hedge fund Nexar Capital Group will buy London-based fund of funds Ermitage from Caledonia Investments for an undisclosed price.
Bloomberg says the combined companies will manage $3.7 billion, subject to regulatory approval of the deal.
Arie Assayag, the former global head of hedge funds at Societe Generale's alternative asset-management unit, founded Nexar in 2009 with colleagues Eric Attias and Bernard Kalfon.
It’s the second significant acquisition for Nexar in the past 12 months. In September 2010, the Paris-based firm increased its AUM to $3 billion with the purchase of Allianz Alternative Asset Management from the German insurer Allianz.
Caledonia, based in London, began life over 80 years ago as a trust to oversee the shipping fortune of the Cayzer family.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…