Man Group discussing deals with SAC Capital and GLG Partners
|March 29th, 2010||
|Man Group Plc, which has more $40 billion in assets under management, is reportedly looking into new investments and acquisitions. A recent Bloomberg article states that Man Group is discussing investing in or distributing funds of Steven A. Cohen’s SAC Capital Advisors LLP. Man Group is also evaluating an acquisition of GLG Partners Inc. (NYSE: GLG), which manages $22.2 billion in over forty funds.|
Man Group’s trading program called Man AHL Diversified Plc, which makes up approximately half of the firm’s assets, lost 17% in 2009 and has barely changed in 2010 according to Bloomberg data. Peter Clarke, Man Group’s CEO, told investors on Wednesday that he aims to boost the firm’s equity long-short strategies, possibly through accessing or acquiring other hedge funds.
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