Wed, Nov 25, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

TPG buys hedge fund administrator GlobeOp

Monday, February 06, 2012

Bailey McCann, Opalesque New York: London and New York-based hedge fund administrator GlobeOp has been purchased by Texas-based buyout firm TPG. TPG will pay $800m for GlobeOp, financed through Credit Suisse. The purchase marks a shift for TPG into the hedge fund industry.

GlobeOp Financial Services was in talks with private equity firms Advent International Corporation and TPG over possible takeover offers earlier this month.

Established in 2000 and listed on the London Stock Exchange, GlobeOp administers more than 1,775 funds and has $173bn assets under administration. TPG has $48bn of capital under management.

According to MarketWatch, TPG is offering 50% above GlobeOp’s share price on January 5 when the firm made the offer. The terms of the deal include a 70% reinvestment by exiting management which will stay on to run the company. TPG is acquiring GlobeOp as part of a continued effort to increase its presence in the financial technology sector.

GlobeOp provides back-office fund administration services for hedge funds in the US and UK. The ......................

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. Investing - BlackRock targets ETF investors with flexible currency hedging, Nelson Peltz bets on General Electric Company and Mondelez International, Apple plummets to 4th place among hedge holdings, from No. 1, Top Q3 equity purchases and sales of top 50 hedge funds[more]

    BlackRock targets ETF investors with flexible currency hedging From BlackRock Inc., the world’s largest asset manager, is changing course on exchange-traded funds that protect against currency volatility. After stressing the easy switch between hedged and unhedged ET

  2. Chicago-based Achievement A. M. is shutting down hedge fund following losses[more]

    Komfie Manalo, Opalesque Asia for New Managers: Achievement Asset Management, a Chicago-based hedge fund firm, has announced it is closing down its hedge fund operation following losses on energy market bets this ye

  3. Lyxor Hedge Fund Index up 0.1% (+0.4% YTD) as global macro and CTAs outperform[more]

    Komfie Manalo, Opalesque Asia for New Managers: Global macro and CTAs outperformed the hedge fund space and delivered positive returns last week amidst difficult market conditions, with the Lyxor Hedge Fund Index up

  4. BlackRock is shutting down its Global Ascent macro fund[more]

    Komfie Manalo, Opalesque Asia: BlackRock, the world’s largest asset manager, has announced plans to shut down a macro fund, Global Ascent Fund, because of "headwinds facing the industry". The hedge fund, which makes bets on stock, bond and currency markets, will return money to investors. Ac

  5. 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