Publications

Taking Stakes in Hedge Funds

May 17, 2010
The Daily Deal

While the hedge fund industry has been recovering, slowly but steadily, in the past year, there has been significant activity in the M&A of hedge fund managers. In particular, numerous sales of minority (10% to 25%) interests have been occurring. There has been some interest in private equity managers as well, although those deals happen much less frequently. Unlike the deals in 2008 and early 2009, which were often done for survival (and often for a low or no purchase price to create some economies of scale), deals in the past 12 months have tended to be financial investments and, in some cases, strategic ventures.