Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at

Man Group acquires $1bn fund of hedge funds manager

by Dylan Lobo on Jun 09, 2014 at 07:33

Man Group acquires $1bn fund of hedge funds manager

Man Group has acquired fund of hedge funds manager Pine Grove Asset Management (PGAM). 

New York-based PGAM is a credit-focused fund firm founded in 1994 and controls around $1 billion in assets.  

Man sees the purchase as complementing its existing fund of hedge funds business FRM.  

Commenting on the transaction, Luke Ellis, President of Man Group, told the market, "FRM's longstanding strategy has been to help investors use hedge funds to achieve their investment goals. Pine Grove has a long and accomplished track record of outperformance and is an excellent addition to the FRM business.’

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Sponsored Video: Bringing it all back home

As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

Investing for income in a changing environment

With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop

More about this:

Look up the shares

  • Man Group PLC
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them


On the road

Click here to find out more from the Audience Development team.

Sorry, this link is not
quite ready yet