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Integrated changes tack with deal to sell hedge funds

Reuters – Integrated Asset Management said on Wednesday it is repositioning as a pure play brokerage business after agreeing to sell a 51 percent stake in its French fund of hedge funds business.

The firm, listed on London’s AIM market, is selling the stake in Altigefi to Sal. Oppenheim in a deal which will also see the private banking group exit as Integrated’s major shareholder.

The move is evidence of smaller asset management players being forced to reexamine their business models as the financial crisis changes the market place. A spokesman said Integrated’s decision to concentrate on brokerage came because it had become more and more difficult to achieve the scale thought necessary to successfully run a fund of funds business.

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Integrated changes tack with deal to sell hedge funds

Reuters – Integrated Asset Management said on Wednesday it is repositioning as a pure play brokerage business after agreeing to sell a 51 percent stake in its French fund of hedge funds business.

The firm, listed on London’s AIM market, is selling the stake in Altigefi to Sal. Oppenheim in a deal which will also see the private banking group exit as Integrated’s major shareholder.

The move is evidence of smaller asset management players being forced to reexamine their business models as the financial crisis changes the market place. A spokesman said Integrated’s decision to concentrate on brokerage came because it had become more and more difficult to achieve the scale thought necessary to successfully run a fund of funds business.

Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.