Hedge Fund News From HedgeCo.Net

Principal unit to buy majority stake in hedge fund firm

Des Moines Register – Principal Global Investors, the investment arm of Des Moines-based Principal Financial Group, has reached an agreement to buy a majority stake in a company that specializes in managing hedge fund investments.

Principal plans to buy 55 percent of Liongate Capital Management for an undisclosed amount. The deal is projected to close in the second quarter, which runs from April 1 to June 30, pending regulatory approval.

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