Friday, 27 February 2015
Last updated 5 hours ago
Jun 25 2014 | 6:44am ET
Several prominent hedge funds are heading to the Standard & Poor’s 500 Index—at least in part.
S&P Dow Jones Indices announced yesterday that Affiliated Managers Group—which owns minority stakes in a number of hedge fund firms—would join its large-capitalization index at the close of trading on Monday. AMG, which is based in Prides Crossing, Mass., will replace Forest Laboratories in the index.
Forest is being acquired by fellow pharmaceutical company Actavis, a deal agitated for by Carl Icahn, who owns 11% of Forest and who has led an activist campaign at for three years. Icahn is set to earn nearly $1.7 billion on the deal.
AMG owns stakes in AQR Capital Management, BlueMountain Capital Management and ValueAct Capital Management, among other hedge funds and asset managers. In addition, the firm has recently agreed to buy a 20% stake in D.E. Shaw Group from the estate of the bankrupt Lehman Brothers holdings.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…