BlueCrest Buys Out Man Group’s Stake

March 24, 2011

On March 22, 2011, Man Group plc announced that it had agreed to sell its 25% minority stake in BlueCrest Capital Management back to BlueCrest for $633 million.


On March 22, 2011 London-listed Man Group plc announced that it had agreed to sell its 25% interest in BlueCrest Capital Management back to BlueCrest in a $633 million deal.  BlueCrest, an alternative asset management group which manages over $25 billion for institutional clients, will pay $496 million of cash, loan notes issued by BlueCrest at a par value of $100 million and the redemption in cash at par of $37 million in existing loan notes from 2007.  Man Group is a hedge fund management firm with $68.6 billion under management.  The transaction is unconditional and is expected to be completed shortly.

To read the press release, please click here.


Categories

Hedge Fund M&A, Investment Manager M&A, Transactions