On April 11, 2018, Schonfeld Strategic Advisors announced that it will acquire Folger Hill Asset Management.
Under the terms of the transaction, Schonfeld Strategic Advisors LLC (“Schonfeld”) will acquire Folger Hill Asset Management (“Folger Hill”) and Folger Hill’s parent company, Leucadia National Corp. and its founder Sol Kum will receive a revenue share in Schonfeld. In addition, certain Folger Hill employees, including the entire Asia unit, will transfer to Schonfeld, including Agnus Wai, the Chief Executive Officer at Folger Hill’s Asia unit. Further terms of the transaction were not disclosed. The transaction is expected to close in the second half of 2018, subject to customary closing conditions.
Schonfeld, founded in 1988, is an investment advisory firm that offers wealth management, equities, trading, financial planning, and advisory services. Schonfeld has over $20 billion in gross market value.
Folger Hill, founded in 2014, is hedge fund that has over $1 billion in assets under management.
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