Friday, 29 May 2015
Last updated 41 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…