Tuesday, 5 May 2015
Last updated 1 hour 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…