Wells Boosts Rock Creek Stake

Mar 20 2014 | 10:30am ET

Wells Fargo Asset Management is set to take a majority stake in fund of hedge funds manager Rock Creek Group next month.

Wells took a 35% stake in Rock Creek in late 2012, with an option to increase that holding to a controlling stake. The bank will exercise that option on April 1, it said.

“This change is a sign of Wells Fargo’s continued commitment to—and investment in—the Rock Creek Group, but it will in no way affect the management, independent culture, investment process and brand identity of the firm,” Wells said. The bank may still increase its stake further.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...