Friday, 21 November 2014
Last updated 10 hours ago
Mar 31 2008 | 9:35am ET
The world’s largest publicly-traded hedge fund is joining the alternatives cavalcade to credit. The Man Group said today that it will take a 50% stake in New York-based Ore Hill Partners, which manages some $3 billion in credit hedge funds.
The deal, which includes Ore Hill taking a 50% stake in Man’s European credit group, Pemba Credit Advisers, is to be financed by US$195 million in cash and US$40 million in new Man shares, Man said.
“This development is part of Man’s strategic plans to expand the range of its investment products,” Man said in a statement. “Ore Hill will be the platform to develop a leading multi-strategy credit business globally.”
Ore Hill co-founders Ben Nickoll and Fritz Wahl will lead the new joint effort, with Mark Mink, who heads US$3.7 billion Pemba, leading the group’s European business.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
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