Private Bank Pays $517M For Hedge Fund Marble Bar

Dec 4 2007 | 7:37am ET

Swiss private bank EFG International has agreed to pay $517 million for hedge fund manager Marble Bar Asset Management; the deal value could rise as high as $1.3 billion based on performance goals. In addition, the sellers will get a 20% of the equity in performance-linked payments.

Five managers at London-based Marble Bar, including founders Hilton Nathanson and Gilad Hayeem, and Lehman Brothers, which owns 20% of the firm, will share in the initial payout, with $117 million going to Lehman. The Marble Bar partners have agreed to reinvest their $400 million for up to six years.

EFG will own all of Marble Bar save for 9.99%, which goes to its Greek affiliate, Eurobank EFG.

Marble Bar manages $4.4 billion in assets. EFG said it expects its new unit to turn a profit of between $80 million and $100 million next year.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…