Fund.com Acquires Weston Capital Management

March 29, 2010

Fund.com acquired Weston Capital Management to expand its operations to include originating, developing, and distributing hedge funds.

On March 29, 2010, Fund.com, a money management and advisory firm, acquired Weston Capital Management (“Weston”), an originator and distributor of hedge funds.  The acquisition significantly expands Fund.com’s business in the hedge fund space.  Weston operates three lines of business: (i) it originates and markets funds of funds, (ii) it originates and markets single-manager hedge funds, and (iii) it raises capital to seed new hedge funds.  Prior to the sale, Weston Capital Management had more than $1 billion in assets under management and had recently formed a strategic-alliance with Harcourt AG, a $4.5 billion global advisor on alternative investments to institutional investors, for investment manager identification and fund seeding.

Fund.com is already involved in the origination and marketing of funds through its majority stake in AdvisorShares, which is a developer and marketer of actively managed exchange traded funds, or ETFs.  AdvisorShares is one of the few companies that has received SEC permission to create actively managed ETFs.  After the transaction, Fund.com Chairman, Joseph Bianco, will become Weston’s new Chairman, and Weston founder, Albert Hallac, will remain the CEO.  Fund.com CEO, Gregory Webster, stated that, as a result of the acquisition, Fund.com will be able to develop, market, and seed a variety of new funds, allowing it to significantly increase its assets under management, and its fee income therefrom.

To read more about this story, please click here.


Categories

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