UBS Considers Management Buyout of A&Q

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.

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