Terrapin Buys Hennessee Advisory Business

Nov 26 2013 | 5:57pm 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

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

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

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of