Sunday, 31 August 2014
Last updated 1 day ago
May 4 2011 | 12:22pm ET
Credit Suisse Group's Asset Management Finance has bought a minority stake in hedge fund Lucidus Capital.
London-based Lucidus, a long/short credit hedge fund with $1.8 billion in assets under management, is AMF's second investment in Europe and its 22nd stake in an asset manager. The deal, terms of which were not disclosed, will not change the operations of the two-year old firm, headed by Darryl Green and Geoffrey Sherry, nor will it affect the minority stake owned by hedge fund Caxton Associates.
Green and Sherry will retain majority ownership of the firm, which also has offices in New York.
"This investment in a high quality European alternative asset manager further diversifies our portfolio by geography and by asset class," AMF CEO Brian Finn said. "AMF continues to look for growth opportunities in Europe. We are delighted to have Lucidus in the AMF family."
"This transaction will allow us to broaden share ownership amongst the partners while enhancing our own invested capital in the funds, which aligns us more closely with our clients," Christon Burrows, co-CEO of Lucidus, added. "AMF's financial resources, global reach and industry knowledge are well suited to help position Lucidus for the next stage of its successful development."
Luicidus is the second deal struck by AMF this year; in January, it bought a minority stake in Brigade Capital Management. The firm has also been in talks with fund of hedge funds firm Rock Creek Group.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...