Wells Fargo Acquires 35% Stake in Rock Creek

December 19, 2012

On December 18, 2012, Bloomberg.com reported that Wells Fargo had acquired a 35% interest in hedge fund firm Rock Creek Group.

On December 18, 2012, Bloomberg.com reported that Wells Fargo & Co. had purchased a 35% minority interest in Rock Creek Group LP, with an option to make a controlling investment.  Rock Creek is a Washington-based hedge fund firm with approximately $7 billion in assets under management in hedge funds and emerging markets.  San Francisco, California-based Wells Fargo currently has approximately $450 billion in assets under management.  The investment was made through a unit within Wells Fargo’s asset management division that groups together boutique asset management firms which continue to operate independently.  Financial terms of the transaction were not disclosed.

To read the complete story, please click here.

 


Categories

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