Friday, 30 January 2015
Last updated 9 hours ago
May 24 2007 | 12:54pm ET
Merrill Lynch has acquired its second stake in a hedge fund manager in a week, and it’s third since October, agreeing to make an undisclosed, non-controlling investment in $4 billion Sterling Stamos Capital Management. Sterling Stamos will remain an independent firm.
"Sterling Stamos is a leading investment firm with an outstanding management team," said Rohit D'Souza, head of global alternative investments and global equities at Merrill Lynch. "We will work with Sterling Stamos to grow their successful business by using Merrill Lynch's global resources."
Sterling Stamos was founded in 2002 by New York Mets owner Fred Wilpon and Peter Stamos, the former chief of staff for former Sen. Bill Bradley (D-N.J.) who now serves as chairman and CEO of the hedge fund. The firm invests in alternative and traditional assets and has offices in New York, Menlo Park, Calif., and Tokyo.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…