Report: Fund Of Funds FRM Courted By Buyer

May 17 2012 | 10:14am ET

It's open season on funds of hedge funds.

Amidst word that Gottex Fund Management would buy Hong Kong-based Penjing Asset Management and that Kohlberg Kravis Roberts is in talks to acquire a stake in Prisma Capital Management comes news that Financial Risk Management may be on the move, as well.

The London-based firm finds itself in the acquisitive sites of an unidentified publicly-traded company, Hedge Fund Alert reports. While HFA speculates that Man Group, whose fund of funds business is led by FRM veteran Luke Ellis, may be the interested party, it reports that sources familiar with the firm say it is more likely to buy a U.S.-focused business.

FRM has US$9 billion in assets under management.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Looking for a way to keep warm during the cold weather or rather alleviate your cold while under the weather?