Reuters – Man Group’s $1.6 billion (1.1 billion pound) takeover of GLG is likely to signal the start of a wave of mergers in a fragmented hedge fund industry still struggling to rebuild asset levels after the crisis, executives said.
Thousands of smaller funds, which have seen little of the industry’s $30 billion or more of inflows since last summer and which are more reliant on generating good performance to earn fees, are under most pressure to join forces, fund bosses meeting here said.
