CDK Sells Stake To Brown Advisory

Apr 20 2012 | 2:20am ET

New York hedge fund CDK Investment Management has sold a minority stake to the Baltimore money manager it has had a partnership with for six years.

Brown Advisory will buy an unspecified chunk of CDK for an unspecified amount of money, Brown said. The deal will give Brown's clients access to CDK-crafted hedge funds.

"The broadened relationship with CDK enhances Brown Advisory's ability to provide both high net-worth and institutional clients advice on a broad range of hedge fund strategies," Brown CEO Michael Hankin said.

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