Tuesday, 4 August 2015
Last updated 10 hours ago
Nov 1 2007 | 12:08pm ET
Private equity firm Hellman & Friedman has taken an undisclosed minority stake in Chicago-based fund of hedge funds manager Grosvenor Capital. Under the deal, H&F has acquired most of the stake held by Value Asset Management, which has been a minority investor in Grosvenor for a decade but is in the process of liquidating.
Grosvenor management—which remains in place without changes to personnel, operations or strategy—has also taken the opportunity to boost its own stake in the firm.
“We are enthusiastic about our new partnership with H&F,” Grosvenor CEO Michael Sacks said. “Their history in general, and experience with asset management firms in particular, were important factors in selecting them to be our partner.”
Grosvenor manages some $24 billion, and maintains offices in London and Tokyo in addition to its Windy City headquarters.
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…