Marshall Wace Buys Peer-To-Peer Fund Firm

Oct 30 2013 | 11:50am ET

Marshall Wace Asset Management is getting into the peer-to-peer lending business.

The hedge fund has bought a controlling stake in Exchange Associates, which is planning to launch a closed-end fund offering investors exposure to P2P programs, it said yesterday. Terms of the deal were not disclosed.

Exchange Associates hopes to list the fund on the London Stock Exchange "in coming months," it said in the joint statement.

Marshall Wace bought the stake from investment bank Liberum Capital.

P2P lending "has the potential to transform consumer and small-to-medium enterprise lending practices worldwide," Marshall Wace's Michael Sargent said.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...