Reuters – British insurer Standard Life’s (SL.L) fund arm has made its first foray into hedge funds with the acquisition of London-based Aida Capital, as clients begin to return to the industry in the wake of the credit crisis.
Standard Life Investments (SLI) will pay a “modest upfront” fee for a 75.1 percent stake in the fund of hedge funds firm, which runs more than $50 million in assets, a spokesman said.
