Thursday, 28 May 2015
Last updated 1 hour ago
Oct 9 2012 | 12:56pm ET
Insurer Allied World Assurance has bought a minority stake in alternative investments firm MatlinPatterson.
AWA acquired a substantial stake in New York-based MatlinPatterson, which has $5.5 billion in assets. As part of the deal, the insurer will invest $500 million in MatlinPatterson's fund, winning fee discounts as a co-owner of the firm.
MatlinPatterson was founded a decade ago by former Credit Suisse executives David Matlin and Mark Patterson, the latter of whom until recently served on AWA's board of directors. The firm, which has both hedge fund and private equity funds in its stable, focuses on distressed investments.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…