Sun, Apr 22, 2018
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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its