BlackRock Slashes Man Stake

Dec 5 2012 | 12:03pm ET

The world's biggest money manager has cut its losses on the world's largest publicly-listed hedge fund manager.

BlackRock slashed its stake in Man Group by almost half, and now owns less than 5% of the troubled firm. The move means BlackRock, which owned 9.32% of Man in March, is no longer the largest shareholder in the firm, a title now held by Odey Asset Management, which owns 5.15% of Man.

Some of the drop can be attributed to Man's fall out of the MSCI indices last month, forcing BlackRock to sell those shares held by its index-tracking funds.

BlackRock has been rumored to be mulling a bid for Man for at least three years, most recently in October. It's not clear whether BlackRock's move to cut its Man stake would preclude a deal.


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of