BusinessWeek – Fintan, led by founder Alexander Klikoff, farms out money to fixed-income hedge funds, Cantor said today in a statement. The deal will bring Cantor’s assets under management and advisory to about $3 billion. Terms of the deal weren’t disclosed.
Howard Lutnick, chief executive officer of Cantor Fitzgerald and BGC Partners Inc., has been expanding into hedge funds, money management and real estate as commissions fall in his firms’ core business of trading stocks and bonds for banks and institutional investors. Dave Goldfarb, the former chief strategy officer of defunct investment bank Lehman Brothers Holdings Inc., joined Cantor in 2012 and is now head of asset management.