Man Group Announces Closing of Pine Grove Asset Management Acquisition
04 August 2014
The close of the transaction further enhances Man Group’s presence in the US and adds to Man Group’s fund of hedge funds business, FRM. Pine Grove will also reinforce FRM’s efforts to offer clients a wide variety of investment opportunities including SEC-registered US 40 Act funds and complementary fund of hedge fund products.
Pine Grove is a credit-focused fund of hedge fund manager, founded in 1994. Since inception, the firm’s hedge fund selections and portfolio management have delivered attractive risk-adjusted returns across market cycles. Approximately two thirds of Pine Grove’s assets are from institutional investors, primarily US-based, with the remaining third from US high net worth individuals and family offices.
As a result of the transaction close, Matthew Stadtmauer, formerly President of Pine Grove has become President of FRM. Tom Williams, Pine Grove’s Chief Investment Officer will continue to be responsible for all investment decisions relating to Pine Grove’s portfolios and will join FRM’s Investment Executive committee.
Contact
Global Communications
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- Georgiana Brunner
- Man Group, Head of Communications
- Tel: +44 (0) 20 7144 1000
- Suze Robinson
- Man Group, Communications Director
- Mobile: +44 (0) 7701 275 024
- Neil Doyle
- FTI Consulting
- Tel: +44 (0) 7771 978 220
United States
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- Robin Pertusi
- Communications Director, Americas Lead
- Tel: +1 212 649 6859
- Prosek Partners – US
- Tel: +1 212 279 3115
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