P. Schoenfeld Looks To Buy Hedge Funds

Mar 24 2009 | 2:00am ET

New York investment firm P. Schoenfeld Asset Management is doing its part to make predictions about hedge fund consolidation a reality. PSAM namesake and CEO Peter Schoenfeld told a New York conference that his firm is in talks to acquire three hedge funds, and that it might not stop with those three.

“Right now we are speaking to three, but we could speak to more,” Schoenfeld told the Reuters Private Equity and Hedge Funds Summit.

Schoenfeld did not identify the potential acquisitions, but said that they each managed between $200 million and $400 million.

“The cost of business has gone up fairly dramatically,” he said. “So there are economies of scale out there.”

Still, he cautioned that none of the possible deals had closed yet, noting that “strong egos” and “cultural things” could keep the acquisitions from happening.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note