Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and 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
Play Commodity conundrum, beleaguered bonds and a US dilemma

Commodity conundrum, beleaguered bonds and a US dilemma

This week’s episode of Investment Pulse looks at the impact of falling commodity prices on banks, dangers of negative yield curves and whether US equities can continue to deliver.

Play Mirabaud's Pyshkin: The US will continue to grow dividends

Mirabaud's Pyshkin: The US will continue to grow dividends

The global equity income manager has invested half of his fund here.

Play Potential US rate rise, cheap oil & the Europe opportunity

Potential US rate rise, cheap oil & the Europe opportunity

This week we analyse the implications of a possible rise in US interest rates, the impact of cheap oil and the European equity opportunity.  

Wealth Manager on Twitter