Hedge Fund News From HedgeCo.Net


UK hedge fund firm Polygon sold for $99 mln

(Reuters) – Tetragon Financial Group has bought Polygon Management, once one of the world’s biggest hedge funds and a high-profile casualty of the financial crisis, for $98.5 million, to expand its asset management business.

Tetragon said in a statement on Monday it will use 11.7 million of its non-voting shares to buy Polygon, founded in 2002 by Paddy Dear and Reade Griffith, as well as its stakes in LCM Asset Management and GreenOak Real Estate. Dear and Griffith are also directors of Tetragon.

Based on Friday’s closing share price, the transaction is valued at $98.5 million.

“This is a continuation of TFG’s strategy to expand its asset management platform and diversify and strengthen its income streams,” Griffith said in the statement.

Read Complete Article

Related Posts Plugin for WordPress, Blogger...

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. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>