Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Man Group to net $456m on Lehman sale

Man Group to net $456m on Lehman sale

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.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
1 Comment Play Citywire Scotland: how wealth managers use new tech

Citywire Scotland: how wealth managers use new tech

We caught up with a few wealth managers at our annual event in Gleneagles to find out what technological innovations they are employing across their businesses.

1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Read More
Wealth Manager on Twitter