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.
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