Friday, 24 February 2017
Last updated 22 min ago
Sep 12 2008 | 9:55am ET
Deutsche Bank is in talks to buy a stake in a Russian hedge fund manager.
The German bank has its eye of UFG Advisors, a US$1 billion hedge fund firm affiliated with but separate from UFG Asset Management, the €400 million (US$558 million) asset manager it purchased a 40% stake in this week. Deutsche Bank has an option to buy the remainder of UFGAM in the future, similar to its 2003 and 2006 deals for UFG’s investment banking business.
The acquisition of UFG Advisors could be a similar two-step process, although nothing has been finalized.
UFG Advisors specializes in Russian securities, according to a Deutsche Bank statement.