Bloomberg – Nexar Capital Group, a Paris-based firm that invests client money in hedge funds, agreed to buy Ermitage Ltd. from Caledonia Investments Plc for an undisclosed price.
The acquisition of London-based Ermitage, a fund of hedge funds that customizes investment portfolios for its clients, is subject to regulatory approval, Nexar said in a statement today. The combined companies will manage $3.7 billion, according to a Nexar spokeswoman.
