Henderson Global Buys Hedge Fund Firm

Nov 14 2013 | 10:41am ET

Asset management firm Henderson Global Investors has acquired an Australian and UK-based hedge fund firm, adding $342 million to HGI’s assets under management.

HGI said in a statement today that it has purchased H3 Global Advisors, which specializes in managed futures and commodities strategies. Details of the sale were not revealed.

“We are thrilled to have the H3 team join Henderson,” said HGI Australia managing director Rob Adams. “The investment strategies managed by the team are contemporary and world class, and are complementary to our business globally.”

Meanwhile, Ascalon, which had owned a 45% state in the hedge fund firm, said that the sale to HGI was in line with its strategy.

“The sale of our 45% stake in H3 Global represents a positive outcome for all parties and highlights our business model of acquiring, actively building, and strategically exiting investments when the time is right,” said Chuak Chan, the chief executive of Ascalon.

UK-headquartered Henderson Global Investors managed £70.8 billion as of the end of September.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.