29th May 2014 06:43
LONDON (Alliance News) - Hedge fund manager Man Group PLC Thursday confirmed that it's in talks to buy quantitative hedge fund specialist Numeric Holdings LLC.
In a statement, the company said the talks are continuing and may or may not lead to a deal.
Numeric is currently owned by its own senior partners, and private equity firm TA Associates, which has a minority stake it bought back in 2004.
For Man, a deal would be its latest major acquisition following the acquisition of GLG Partners and FRM Holdings in recent years. It would also mark a major expansion in the US.
By Steve McGrath; [email protected]; @SteveMcGrath1
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