Sat, Jun 23, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Two of Matrix Group's companies are seeking protection from creditors – Report

Tuesday, November 06, 2012

Benedicte Gravrand, Opalesque Geneva – Matrix Group, the UK financial services business, may be in deep trouble, as it is currently trying to protect itself form its creditors, according to a fresh report from Bloomberg.

Matrix Group is an independent financial services business founded in 1987 and headquartered in London, which runs funds of hedge funds, UCITS funds, cash funds, private equity, property and acts as advisor, broker and researcher among other things. It was managing around £4bn ($6.4bn) in total AuM a year ago.

Now Bloomberg.com has just reported that Matrix is planning to seek protection from its creditors "amid muted investment returns and a slump in deal making by financial firms." The firm told a court last week it intends to appoint administrators, according to the Companies Court in London. An administration procedure protects a company from its creditors by bringing in an independent entity to find a buyer for all or parts of the business or wind up the company, the report says. Matrix’ spokespersons did not supply comments.

Within the Matrix Group of Companies, a PR agency told Opalesque, it is only Matrix Group Limited and Matrix-Securities Limited that have filed a notice of intention to appoint administrators. Discussions are ongoing with a view to the viable business with the Matrix Group continuing under new ownership.

Background According to Opalesque’s records a......................

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. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  2. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  3. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  4. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv

  5. British Empire: Pershing's 23% discount 'unsustainable'[more]

    From Citywire: The wide discount on Pershing Square Holdings (PSH) is 'unsustainable' and puts star hedge fund manager Bill Ackman under pressure, says British Empire (BTEM). Pershing is the third largest holding in the £850 million British Empire trust, managed by Joe Bauernfreund, which sp