September 07, 2006
Hedge Fund to buy out Rival Fund
There seems to be quite a bit of activity on the European hedge fund front. Once this volatile industry got a foothold into the European market in general and the UK market in particular, there have been rapid developments. It is today one of the most influential markets in Europe. And this upward surge has ensured that today London alone handles nearly $200 bn in funds under management.
Continuing this growth strategy is RAB Capital, the European hedge fund management and investment firm, which plans to acquire $500m fund, Northwest Investment Management. RAB, which was founded in 2004, has grown rapidly and this latest buyout marks a phase in the firm’s growth making it the second and largest acquisition. Last June, it bought Cross Asset Management, which had around $200m assets under management, for £9.5m. This latest move will increase the firm’s exposure to the emerging markets. Hedgeco.net reports:
Northwest was created in 1998 and manages a number of funds, some investing in Asian emerging markets, with one focused specifically on Japan.
Read more: Hedge Fund to buy out Rival Fund
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