Saturday, 28 November 2015
Last updated 16 hours ago
Mar 4 2013 | 9:25am ET
Principal Global Investors will acquire a 55% stake in London and New York-based alternative investment boutique Liongate Capital Management.
The value of the deal was not made public, but according to a press release, the Liongate partners—who will retain a 45% stake in the firm—will reinvest “a significant share of their consideration” into existing Liongate strategies.
Principal Global, a member of the Principal Financial Group, manages $281.5 billion, primarily for institutional clients. Liongate, founded in 2003 and with $2.1 billion under management, creates and manages portfolios of hedge funds.
“With its strong reputation and focused investment expertise, Liongate is a welcome addition to our multi-boutique investment management structure,” said Jim McCaughan, chief executive officer of Principal Global Investors, in a statement. “The partnership will enhance our capabilities in alternative investments, which is an area where client demand continues to grow. Very few institutional investment firms have this level of expertise in hedge fund investing.”
Liongate, for its part, will get access to the larger group's distribution networks, infrastructure and product-development expertise.
The transaction is expected to close in Q2 2013, pending regulatory approval. Sandler O'Neill + Partners advised The Principal on the transaction and Fenchurch Advisory Partners advised Liongate
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…