Hedge Fund To Buy Quant Shop Numeric, Man Tipped

May 27 2014 | 12:40pm ET

After a decade, private-equity firm TA Associates is cashing out of hedge fund Numeric Investors.

More than a year after an auction for the minority stake in Boston-based Numeric produced no acceptable bids, TA has struck a deal with a large overseas hedge fund, Hedge Fund Alert reports. The unidentified buyer—HFA notes that speculation has centered on Man Group—is actually taking a majority stake in the firm, indicating that founder Lang Wheeler and Numeric’s other partners are selling some of their stake, as well.

Barclays and Freeman & Co. brokered the sale. Terms of the deal were not disclosed.

TA bought its piece of Numeric, a quantitative specialist, in 2004, investing some of its TA 9 fund, which launched in 2000. The Boston-based firm has been looking to exit the investment for nearly two years.

Numeric was founded in 1989 and has about $14 billion in assets under management.

If the buyer proves to be Man, it will be the giant firm’s latest major acquisition, following deals in recent years for GLG Partner and FRM Holdings. Man CEO Emmanuel Roman—himself a former GLG executive—said in February it hoped to acquire a U.S. firm.


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