Man, FRM Marriage Official

Jul 18 2012 | 2:05am ET

The Man Group has closed its acquisition of US$8 billion fund of hedge funds FRM Holdings.

The consummation of the US$142.8 million deal was announced yesterday. It makes Man, already the world's largest hedge fund firm by some measures, the largest fund of hedge funds manager outside of the U.S.

The combined Man-FRM fund of funds business accounts for US$19 billion in assets.

The deal was first announced in May. Man agreed to pay up to US$82.8 million in cash, with up to US$60.8 million to come over the next three years from performance fees.

Man said the acquisition would cause no material change to its cost base and could result in savings of US$45 million per year.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR