BGI To Quit External Hedge Fund Biz?

Jan 22 2009 | 12:34am ET

Barclays Global Investors appears poised to quit the fund of hedge funds business.

BGI, the funds arm of Barclays, may give up on its plans to create an external fund of funds business in the U.K., Reuters reports. If it does abandon the effort, it is likely to transfer its AlpEx fund to Barclays Wealth Management.

“It just does not make sense to have two companies within the same family doing exactly the same thing,” a source familiar with the situation told the news agency.

BGI set up AlpEx in 2006 as the first step towards building an external hedge fund lineup. The firm had hoped to raise US$1 billion for the fund, which was aimed at institutional investors, within the first 18 months, but had collected only US$350 million by the end of 2007. It is BGI’s only fund of funds that invests in outside managers.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...