Friday, 6 March 2015
Last updated 6 hours ago
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.
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…