South Africa’s Peregrine Buys Big Stenham Stake

Oct 4 2007 | 7:41am ET

One of South Africa’s biggest hedge fund firms is looking north, buying a majority stake in a much larger British hedge fund.

Peregrine Holdings has agreed to take a 65% stake in London-based Stenham Asset Management, which manages more than US$4 billion, half of which in funds of hedge funds.

Peregrine, which manages some 4.3 billion South African rand (US$620 million), is to pay £150 million (US$305 million) for the stake, and could increase its share of Stenham to 75%.

Stenham is no stranger to its new homeland: The firm has offices in Cape Town and Johannesburg, as well as the Channel Islands, the Netherlands, Israel and Switzerland.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

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

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Looking for a way to keep warm during the cold weather or rather alleviate your cold while under the weather?