Sat, Apr 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Man Group to acquire FRM, combined multi-manager business will manage $19bn

Monday, May 21, 2012

Benedicte Gravrand, Opalesque Geneva: Man Group is to acquire Financial Risk Management Holdings Ltd (FRM), a global hedge fund investment specialist.

The acquisition should be completed before the end of September 2012. No consideration will be paid up front. According to a release issue by Man today, the contingent consideration to be paid over three years comprises i) a maximum of $82.8m in cash, net of total net assets acquired and dependent on asset retention ii) a 47.5% share of performance fees attributable to FRM’s existing FuM over three years, subject to a cap.

When the acquisition is completed, the combined business will be keep its FRM brand and be led by Luke Ellis, currently CEO of Man Multi-Manager. Ellis is coming back to old grounds, as he was Managing Director of FRM between 1998 and 2008. As for Blaine Tomlison, founder of FRM, he will become non-executive Chairman of the business.

Man and FRM’s combined multi-manager business will have total funds under management (FuM) of around $19bn (FRM has around $8bn now). This would make it the largest independent non-US based fund of hedge funds.

Man is one of the world’s large......................

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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n