{"id":26643,"date":"2011-12-29T11:28:05","date_gmt":"2011-12-29T16:28:05","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=26643"},"modified":"2011-12-29T12:50:25","modified_gmt":"2011-12-29T17:50:25","slug":"us-investor-acquires-2-4-billion-uk-hedge-fund-group","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2011\/us-investor-acquires-2-4-billion-uk-hedge-fund-group.html","title":{"rendered":"US Investor Acquires $2.4 Billion UK Hedge Fund Group"},"content":{"rendered":"

\"\"<\/a>New York (HedgeCo.net) – $351.7 billion US investment manager,\u00a0Federated Investors, Inc., is acquiring Prime Rate Capital Management from UK hedge fund Matrix Group Limited.<\/p>\n

Prime Rate Capital Management’s family of UCITS hedge funds include: Prime Rate Sterling Liquidity Fund, Prime Rate Euro Liquidity Fund and Prime Rate\u00a0US Dollar Liquidity Fund. Together the funds are estimated to be worth approximately\u00a0GBP 1.5 billion\u00a0($2.4 billion.)<\/p>\n

“The agreement will incorporate Prime Rate Capital’s experienced team, insightful processes and excellence in liquidity management into Federated’s money market business \u2013 with euro, sterling and dollar-denominated UCITS products positioning us for future growth,” said\u00a0Gordon J. Ceresino, president of Federated International Management Limited. “After adding an additional sales person in our\u00a0Frankfurtoffice earlier this year, Federated continues to seek opportunities to expand our global business in\u00a0Europeand around the world.”<\/p>\n

With\u00a0$189 billion\u00a0in AAA-rated money market funds, Federated is the second-largest U.S. manager of money funds of the highest credit quality. Federated has 12% of the U.S. market share of AAA-rated money market funds, according to iMoneyNet.<\/p>\n

“We opted to join Federated because of the company’s reputation as a premier global liquidity manager since the 1970s,” said\u00a0Dennis Gepp, managing director and chief investment officer of Prime Rate Capital.\u00a0 “Our clients and shareholders in the funds can be confident in Federated’s stewardship and credit process, as it is one of the world’s largest and most experienced managers of money market products.”<\/p>\n

Alex Akesson
\nEditor for HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a> is a premier hedge fund database<\/a> and community for qualified and accredited investors only. Membership in HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.net) – $351.7 billion US investment manager,\u00a0Federated Investors, Inc., is acquiring Prime Rate Capital Management from UK hedge fund Matrix Group Limited. Prime Rate Capital Management’s family of UCITS hedge funds include: Prime Rate Sterling Liquidity Fund, Prime […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,3],"tags":[],"class_list":["post-26643","post","type-post","status-publish","format-standard","hentry","category-activist-funds","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=26643"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26643\/revisions"}],"predecessor-version":[{"id":26647,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26643\/revisions\/26647"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=26643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=26643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=26643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}