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

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note