Tuesday, 23 September 2014
Last updated 3 hours ago
Dec 5 2012 | 11:03am 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.
Sep 22 2014 | 4:15pm ET
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Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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