Aladdin Sells Credit Hedge Funds

Nov 23 2011 | 7:33am ET

Aladdin Capital Holdings has agreed to sell several of its hedge funds to Mitsubishi Corp., which owns almost 20% of the Stamford, Conn.-based firm.

Aladdin, which earlier this year shut its two-year-old broker/dealer operation, will sell its corporate credit hedge fund and bankruptcy loan funds to MC Asset Management Holdings. The firm, which will retain some $9.6 billion in structured debt pools, will own a 20% stake in the new venture, with the rest owned by Mitsubishi.

MC Asset Management will have about 20 employees initially. The rest of Aladdin’s management team “will remain intact and the transition is expected to be seamless to investors,” Aladdin said in a statement. In addition, the firm said that chief investment officer Neil Neilinger would be promoted to CEO.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note