Northill Bids For Rest Of Alpha Strategic

Sep 30 2013 | 12:56pm ET

Northill Capital has made an offer to acquire the minority share of hedge fund financing firm Alpha Strategic that it does not already own.

Northill bought a 51% stake in Alpha Strategic in 2011. The firm, founded by former Bank of New York Mellon vice chairman Jon Little, is offering £0.25 per share for the rest of the company.

Alpha Strategic shares were trading at £0.19 before the bid was announced, rising to £0.235 in its wake. The company's share price has plummeted since it listed in 2005 at £1.20; Northill paid £0.53 per share in 2011.

Alpha Strategic's board said it is "considering the approach and will make a further announcement in due course."

Northill provides financing to hedge funds in exchange for a share of their revenue, and has done deals with such prominent firms as Winton Capital Management and IKOS Asset Management. The end of the latter agreement earlier this year sent the company to a £2.2 million loss, but Northill said it is in "advanced discussions" with four potential new partners.

Northill was founder by former Man Group executives Colin Barrow and Kit Malthouse. The latter is now deputy mayor of London.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Scene Last Night: Clinton, Schwarzman, Corzine, Neidich, Diamond

Nov 25 2014 | 5:52pm ET

Steve Schwarzman had a granddaughter yesterday morning. Last night he sat one table...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.