FN – Deutsche Bank is in advanced talks to sell its minority stake in London-based hedge fund firm Arrowgrass Capital Partners to Foundation Capital Partners, according to people familiar with the matter.
Foundation, a private equity firm, is expected to pay between $100 million and $200 million for a more than 20% stake in Arrowgrass, which would include Deutsche Bank’s 17.5% share, plus additional equity, one of the people said. The deal could wrap up as soon as this month and would value Arrowgrass, which manages about $5 billion as a mult-istrategy fund, at more than $500 million.
