Friday, 29 May 2015
Last updated 12 min ago
May 24 2012 | 10:57am ET
Count Moody's Investor Services among those distinctly unimpressed with Man Group's plan to buy fund of hedge funds FRM Holdings.
The ratings agency said this week that it would continue its review of the world's largest publicly-listed hedge fund as it considers downgrading Man's senior debt. Moody's wrote that "the FRM transaction has no immediate implication for Man's rating," since "there is no immediate cash consideration" and because FRM is "relatively small" in the Man scheme of things.
Man said earlier this week that it would buy Hong Kong-based FRM, which has US$8 billion in assets, for up to US$82.8 million in cash, as well as other considerations.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…