Irish Bank Acquires Stake In N.Y. FoF Firm

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.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of