Thursday, 18 September 2014
Last updated 16 hours ago
Feb 20 2014 | 9:48am ET
The Man Group has US$550 million to spend—and wants to spend it on another asset manager.
The hedge-fund giant is intensifying its search for an acquisition target, as it seeks to further diversify and limit its reliance on its flagship AHL program. According to the Financial Times, Man, which bought GLG Partners four years ago and fund of hedge funds FRM two years ago, is on the lookout for a long-only manager. The firm is also said to be eager for opportunities in the U.S.
"We continue to look for opportunities to grow the business through selective acquisitions," Man CEO Emmanuel Roman, himself a former GLG executive, said. "In assessing these opportunities, we will seek to remain disciplined on price, structure and cultural fit and ensure that any proposed transaction represents a sound use of capital."
If Man can't find such an opportunity, it plans to return its capital surplus to shareholders.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.