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

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...