Man May Buy Hedge Fund Numeric

May 29 2014 | 1:08pm ET

The Man Group is indeed in talks to acquire Boston hedge fund Numeric Holdings, it said today.

The hedge fund giant said it is considering a bid for the $14 billion firm. It is unclear how much Man might pay for Numeric; Espirito Santo Investment Bank analyst Phil Dobbin suggests it could be in excess of $400 million.

Hedge Fund Alert reported last week that, after more than a year on the market, Numeric had struck a deal to sell a majority stake to a large overseas hedge fund. The move would allow both Numeric’s partners and private-equity firm TA Associates, which bought a minority take in the firm a decade ago, to cash out.

Man has been on the hunt for an acquisition target to follow its deals for GLG Partners and FRM Holdings. Man CEO Emmanuel Roman said the firm was focused on long-only and U.S. firms; a deal for Numeric would check both boxes.


In Depth

Direct Lending: What’s Different Now?

Mar 14 2017 | 8:43pm ET

Senior direct lending funds have become riskier over the past four years, with leverage...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...