Saturday, 30 August 2014
Last updated 22 hours ago
Apr 10 2012 | 1:08pm ET
Principal Global Investors' expansion hasn't ended with its acquisition of majority stakes in hedge funds Finisterre Capital and Origin Asset Management. The asset management arm of insurance giant Principal Financial Group plans to add other asset classes to its stable—starting with a fund of hedge funds.
PGI CEO Jim McCaughan is focused on finding a fund of funds manager to buy, hoping to replicated the success of Man Group and Lyxor Asset Management's fund of funds platforms.
"I'd heard Jim was interested in a fund of funds business," an investment banker told Financial News. "They make up a sector that relies on institutional money and he has links with no end of potential clients. He is happy to buy into relatively small managers, in the belief that he can help them grow."
McCaughan himself told FN that PGI "are interested in funds of hedge funds, where we can be certain they add value in terms of selection and structure." PGI is also eyeing infrastructure managers, but with less hunger: "The area is quite complex," McCaughan said.
Last year, PGI bought controlling stakes in two London hedge funds, Origin and Finisterre, for a combined US$150 million. Parent PFG is expected to spend up to US$900 million on acquisitions this year.
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 ...