View the article online at http://citywire.co.uk/wealth-manager/article/a635017
Man Group to net $456m on Lehman sale
by Sarah Miloudi on Nov 16, 2012 at 07:53
Man Group has entered into a series of transactions with Hutchinson Investors LLC to sell its residual exposure to the Lehman estates.
Man Group, the listed hedge fund house, acquired the exposure in July 2011 from certain GLG managed funds.
The transaction is expected to net in the region of $456 million and comes after Man Group announced a drive to improve returns for shareholders.
According to a stockmarket announcement, a deal would allow Man to benefit from the payment while retaining key obligations to the funds.
The proceeds from the sale will also increase Man's regulatory capital surplus and enhance its cash position.
News sponsored by:
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
From Nigeria to Pakistan and from Kenya to Kuwait, frontier markets are catching investors' attention as never before.
More about this:
On the road
by David Campbell on Aug 01, 2014 at 08:40