Monday, 29 December 2014
Last updated 18 min ago
Dec 22 2005 | 9:00pm ET
Bank of Ireland Group announced on Tuesday that it is in the process of acquiring a 71.5% stake of U.S. fund-of-hedge funds manager Guggenheim Alternative Asset Management for approximately $184 million. The acquisition is part of the bank's plan to expand its offerings to institutional investors.
Guggenheim's management will retain 11% ownership and Guggenheim Partners will own 17.5% of the company.
"This deal enables Guggenheim Alternative Asset Management to harness Bank of Ireland's international distribution capability which will accelerate its growth in the institutional market," said Dominic Curcio, a managing partner at Guggenheim, in a release.
New York-based Guggenheim Alternative Asset Management has $2.8 billion in assets under management from institutional and high-net-worth clients.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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