Rumors are swirling around Wall Street claiming that UBS is shopping around all and/or parts of its hedge fund business. Dow Jones Newswires reported the rumors and received no comments from a UBS spokesperson.
According to UBS’s website, its Alternative and Quantitative Investments group ("A&Q") manages more than $39 billion in assets and was named “the largest investor in hedge funds in the world” by InvestHedge Billion Dollar Club in March of 2009.
The majority of the group’s assets are in funds of hedge funds products. Although, the UBS O'Connor division directly manages more than $5.4 billion (as of 1/1/09) in non-traditional strategies through its Currency and Rates, Credit Strategies, Equity Strategies and Convertible Securities programs. O'Connor has a global trading platform with offices located in Chicago, London, New York and Hong Kong. |
