Wednesday, 25 November 2015
Last updated 16 hours ago
Apr 22 2009 | 9:32am ET
UBS is considering the sale of its hedge fund unit to the group’s management, a Swiss newspaper reported yesterday.
The management of UBS’ Alternative & Quantitative Investments group have made a buyout offer, according to the Neue Zürcher Zeitung. The Swiss bank may sell part of the hedge funds group, or all of it, in a deal that could earn it about US$850 million.
Last week, UBS CEO Oswald Grübel said the bank was conducting a strategic review to determine which of its business to hold on to, and which to exit.
A&Q manages some US$39 billion in assets. Its operating income fell 29% last year, and its funds of funds posted negative returns in the third quarter. On the other hand, its single-manager funds enjoyed relatively strong returns.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…