Terrapin Buys Hennessee Advisory Business

Nov 26 2013 | 6:57pm ET

The Hennessee Group has sold its hedge fund and private-equity advisory business to Terrapin Asset Management.

Hennessee, best known for its hedge fund indices, will now focus on its research business and on expanding into the hedge-fund exchange-traded fund space.

"After more than 25 years in the hedge fund advisory business, we made the decision to entrust our client relationships with Terrapin and focus on our research and Hennessee Index products and publications," firm founder Elizabeth Hennessee said.

The deal, terms of which were not disclosed, has been in the works for about a year, with the lead time allowing clients the flexibility to transfer their accounts. Terrapin said that all of Hennessee's advisory clients did so.

"We are excited to substantially grow our direct-investing advisory business with this transaction," Terrapin president Dean Rubino said. "This puts Terrapin firmly on the path of adding value through service in what has become a product-dominated marketplace."


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of