Tuesday, 30 September 2014
Last updated 1 hour 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
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...