Reuters – ABN AMRO is set to invest up to 100 million euros ($129.7 million) in a newly listed hedge fund managed by European hedge fund firm Marshall Wace, the Financial Times reported on Monday.
ABN will join Deutsche Bank and Merrill Lynch as core shareholders of the 1.5 billion euro MW Tops fund, which is expected to be fully subscribed later in the day or on Tuesday, said the FT, quoting sources familiar with the situation.
“We can’t confirm nor comment on the report,” an ABN AMRO spokeswoman said.
Deutsche and Merrill have both committed to buy 9.9 percent, with Merrill capping its investment at 120 million euros.
All three of the banks would see their investments cut back if the fund is more than fully subscribed by its IPO date of December 8, said the report.
