Tuesday, 2 June 2015
Last updated 10 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…