Sun, Nov 29, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Biggest French hedge fund sells minority stake to U.S. private equity firm Dyal

Friday, January 13, 2012

Benedicte Gravrand, Opalesque Geneva: The biggest French hedge fund, Capital Fund Management (CFM), completed its re-organisation earlier this month, following the death of its founder, Jean-Pierre Aguilar, in 2009. The company reportedly managed $2.6bn in hedge funds then.

Part of Aguilar’s stake went to the four other managing directors (Jean-Philippe Bouchaud, Marc Potters, Jacques Saulière and Philippe Jordan), reported French news publication L’Afegi.

And a minority part of his stake was sold to Dyal Capital Partners in December 2011. Dyal Capital Partners is a U.S.-based private equity firm specializing in making investments in hedge fund managers and seeking to take minority stakes. Founded in 2010, it is a subsidiary of Neuberger Berman Inc. , a global independent asset management firm.

The $1bn purchase of this stake in CFM is the first one for Dyal.

CFM’s directors retain control and decision power, which is important for their investors, said Julian Parsons, director at KPMG Corporate Finance, which took care of the transac......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November