Mon, Jan 16, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Mizuho Corporate Bank to acquire 95% stake in Eurekahedge

Friday, March 04, 2011
Opalesque Industry Update - Mizuho Corporate Bank, Ltd. (“MHCB”) entered into a stock purchase agreement (the “Agreement”) with the shareholders of Eurekahedge Pte. Ltd., a Singapore-based company providing hedge fund research and data services (“Eurekahedge”). Pursuant to the Agreement, MHCB will acquire 95% of the issued and outstanding ordinary shares, on a fully-diluted basis, of Eurekahedge.

In October 2010, MHCB established Mizuho Global Alternative Investments (“MGAI”) as a wholly owned subsidiary, to select and provide alternative investment hedge fund products for Japanese institutional clients including corporate pension funds and financial institutions.

MGAI and Eurekahedge previously entered into a business alliance agreement and are strengthening their collaborative efforts through joint projects such as the launch of the Japanese version MGAI-EH Newsletter, an analytical report on the hedge fund industry that MGAI issues in collaboration with Eurekahedge.

“The Eurekahedge Hedge Fund Index’s performance has risen over 220% since we have been tracking the industry from 2000 and the size of the industry has grown to US$ 1.7 trillion. Despite some high profile blow ups in the last few years the bulk of the industry weathered the most recent financial crisis rather well and we see 2011 as being a bumper year for the industry both in terms of asset growth and performance,” said Alexander Mearns, CEO of Eurekahedge.

The acquisition of Eurekahedge, a specialist in providing independent research and data services, and the utilisation of the “Eurekahedge Fund Index” will enhance business synergies among asset management companies (such as Mizuho Alternative Investments, MHCB’s U.S. subsidiary) and securities firms within the Mizuho Financial Group, which will enable the Mizuho Financial Group to provide optimal products and services to better meet its customers’ needs.

“We are incredibly enthusiastic about working with Mizuho Corporate Bank and the team at MGAI and utilising our 10 years of hedge fund data and index experience to our mutual benefit.”

Terms of the Transaction

Upon the closing of the proposed transaction, Eurekahedge will become a subsidiary of MHCB. The founders of Eurekahedge and the current Chief Executive Officer will together retain the remaining 5% of the ordinary shares of Eurekahedge and will continue to participate in its management. By maintaining management continuity, MHCB intends for Eurekahedge to continue to offer its existing services to its current customers.

(press release)

About Mizuho Corporate Bank and Mizuho Global Alternative Investments

Mizuho Corporate Bank, Ltd. provides financial and strategic solutions for the increasingly diverse and sophisticated needs of clients, focusing its efforts on serving major corporations, financial institutions, and public sector entities. A relationship management approach to serving clients enables Mizuho Corporate Bank, Ltd., together with affiliates such as Mizuho Securities Co. Ltd., to develop customized solutions in areas such as corporate, structured and project finance, investment banking, transaction banking and risk management. With offices in more than 30 countries, Mizuho Corporate Bank, Ltd. offers clients both localized service and the extensive reach of a global business network. Mizuho Corporate Bank, Ltd. is a subsidiary of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), one of the largest financial services companies in the world, with total assets of over $1.5 trillion as of December 31, 2010.

MGAI is a subsidiary of Mizuho Corporate Bank and is to specialise in the gatekeeping business, which aims to select and provide alternative investment products, mainly hedge funds, to corporate pension funds, financial institutions, and other clients.

About Eurekahedge

Founded in 2001, Eurekahedge is an independent financial data and research company focusing on alternative investments. Eurekahedge maintains coverage on 20,000 alternative funds globally and its research covers hedge funds, funds of funds, UCITS III hedge funds, private equity funds, Islamic funds, real estate funds, SRI funds and long-only absolute return funds.

In addition to fund data Eurekahedge publishes over 100 alternative investment benchmark indices along with the monthly Eurekahedge Report covering asset flows, fund performance, macroeconomic trends, league tables and specific index returns on the hedge fund industry.

Eurekahedge has offices in Singapore and New York and employs 41 people...Full press release: Source
KM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Southpoint Capital gains 3.8% in Q3, bringing year-to-date returns to 5.2%[more]

    From Valuewalk.com: Southpoint Capital Advisors, the $3 billion New York hedge fund founded by former employees of David Einhorn’s Greenlight Capital, added 3.8% net during the third quarter of 2016, bringing year-to-date returns to 5.2% and cumulative returns since inception (July 2004) of 237.4% a

  2. The Big Picture: The case for emerging market debt in 2017[more]

    Benedicte Gravrand, Opalesque Geneva: Emerging market (EM) assets outperformed in 2016 mainly because of stronger fundamentals and an improving international environment, with GDP picking up speed, leading to positive earnings revisions for the first time in five years,

  3. Amplitude's Klassic CTA up 29% in 2016[more]

    Benedicte Gravrand, Opalesque Geneva: Swiss CTA manager Amplitude Capital can boast outperformance for one of its short-term trading strategies. The Klassik strategy, which trades equities, FX, fixed income and commodities, returned 29.39% in

  4. Hedge funds gain across strategies in December, outperform MSCI to close at record index level in 2016[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted gains across all strategies in December to conclude 2016, with the HFRI Fund Weighted Composite Index (FWC) rising to a record index value level as oil prices surged, equities gained and U.S. interest rates increased into year end, accordin

  5. Performance - BlackRock's robot stock-pickers post record losses, Soros-backed fund Glen Point loses in first trading year, Regal Funds Management: Bleak year as returns in key funds plunge 25pc, Elm Ridge Capital up 25% in 2016[more]

    BlackRock's robot stock-pickers post record losses From Bloomberg.com: Like so many fund titans these days, Laurence D. Fink is betting on machines to turn around BlackRock Inc.'s beleaguered stock-picking business. Trouble is, they just might have made things worse. BlackRock