Wed, Aug 31, 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. The Big Picture: Water is single largest environmental investment opportunity[more]

    Benedicte Gravrand, Opalesque Geneva: Water, the world’s most precious and undervalued commodity, is set to lead the socially and environmentally responsible investment themes. This is according to specialist fund manager Thomas Schumann. His firm,

  2. Commodities - Hedge funds pile into bullish bets on U.S. crude by most on record, Rig count steady, hedge funds dump short contracts on 63 million barrels, Hedge funds bail on Copper as Goldman predicts ‘supply storm’, Hedge funds pile up bets against sterling[more]

    Hedge funds pile into bullish bets on U.S. crude by most on record From BRecorder.com: Hedge funds and other speculators raised their bullish bets on US crude oil in the past week by the most on record fuelled by speculation that Organization of the Petroleum Exporting Countries will agr

  3. Investing - U.S. hedge fund Marathon makes Brexit bet on European property, Hedge funds love Liberty and John Malone, DE Shaw could bid for control over TerraForm Power, New York hedge fund increases stake in Tronc as sale talks continue, Don't wait too long to check this +20% value fund's ideas[more]

    U.S. hedge fund Marathon makes Brexit bet on European property From FT.com: Marathon, a $13bn US hedge fund, is building a big Brexit trade, increasing its investments in property across Ireland, France, Germany and the Netherlands, in a bet that they will be among the big beneficiaries

  4. Opalesque Exclusive: Investors struggle to identify the better performing hedge funds[more]

    Komfie Manalo, Opalesque Asia: Fund managers and investors believe that performance is one of the major factors driving change in the hedge fund industry, a Preqin survey showed in its latest Hedge Fund Spotlight. Preqin said that the disappoin

  5. …And Finally - Baby born on Cebu Pacific airplane gets 1 million air miles[more]

    From CNN.com: Here's one kid who'll probably learn to fly before she can crawl. After being born four hours into a flight from Dubai to Manila, baby girl Haven has been gifted 1 million air mile points. Haven's mom went into labor more than five weeks early while flying on an aircraft op