Consultant Gray Buys Hedge Fund Tiburon

Nov 9 2012 | 10:17am ET

Hedge fund Tiburon Capital Management has been acquired by New York-based Gray & Co.

Gray, an investment consultancy, added Tiburon last month in a deal whose terms were not disclosed, Gray's director of manager research and administration chief Yolanda Waggoner-Foreman told Pensions & Investments. Tiburon is now a subsidiary of Gray, based at its New York office, with the hedge fund's CEO, Peter Lupoff, named head of Gray's alternative investments division.

The acquisition boosts Gray's assets under management by about 10%, with Tiburon's $54 million event-driven strategy coming on board.

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