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Karl D’Cunha Bailey McCann, Opalesque New York:
Karl D’Cunha is an expert in advising asset managers on merger and acquisition issues. He is the managing director of Chicago-based, Madison Street Capital and advises funds ranging from $200m-20bn in assets under management. D’Cunha was recently interviewed by Greg De Spoelberch for Opalesque TV.
According to D’Cunha, there is a broad based market of potential hedge fund buyers. Many are looking for strategic additions to a platform while others are looking to add to more to an existing roster in order to attract larger allocators. "All of this is within the global context. Never before, have we seen so much cross border transactions and interest. For me, I get calls from around the world asking who are US or North American targets that are available for sale and vice versa. There are a lot of US-based hedge fund managers that want to gain exposure in say a place like Brazil or India or Russia and they want to know what is available out there," he explains.
He also notes that the 2008 crisis has driven a shift toward strategic acquisitions, as buyers are more aware of the potential for fraud and seek to avoid risk. The Madoff and Galleon scandals also had an impact, "they really put a halt to the momentum of transactions and also lowered the multiples, because a lot of people, I think, risk-adjusted what they are willing to pay for ...................... To view our full article Click here
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