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Hedge fund firm Bramdean receives offer

Reuters – Nicola Horlick’s boutique fund manager Bramdean Alternatives said on Thursday it has received an approach for a possible takeover by an unnamed bidder.

The manager said in a statement: "The Board announces that it has received an approach which may or may not lead to an offer being made for the entire issued share capital of the Company."

At the end of last year Bramdean, headed by well-known fund manager Horlick, said it had an exposure to Bernard L. Madoff Investment Securities representing 9.5 percent of its net asset value at the end of October.

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