Saturday, 23 August 2014
Last updated 12 hours ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note