Man Group looks to China for hedge fund sales expansion
| July 10th, 2010 | ||
| On Thursday Man Group PLC CEO Peter Clarke reportedly stated that the hedge fund manager was looking to offer product to Chinese investors within the next few years. According to the Wall Street Journal, the firm has been lobbying for authorization, possibly through China’s central bank, following the firm’s successful dealings in Japan, South Korea and Taiwan and its opening in Hong Kong. Clarke anticipates receiving authorization in as soon as three years. Man Group is also currently working on closing its acquisition of GLG Partners. Man Group’s shareholders will vote on the acquisition in mid to late August with an anticipated deal finalization by September. | ||
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