WEST PALM BEACH, FL (www.hedgeco.net) – Lehman Brothers Asset management has purchased a stake in a U.S. hedge fund manager Ospraie, a firm that invests in basic industries and commodities.Traditional hedge asset managers have continued to purchase interests in hedge fund managers, such strategy hopes to tap into the fastly growing hedge fund industry. Ospraie hedge funds oversee atotal of about $2 billion in total investor\u00c3\u00af\u00c2\u00bf\u00c2\u00bds assets.<\/p>\n
According to news reports, Lehman Brothers is also interested in GLG Partners a European based hedge fund manager. Lehman already owns a stake of 20 percent in GLG Partners, while the talks have stalled; there are chances that the deal will again be revived. During the past 3 years hedge funds have become major revenue sources for investment banks such as Lehman Brothers through brokerage fees.<\/p>\n
Several investment banks such as JPMorgan Chase have also purchased interests in hedge funds. JP Morgan recently took a majority stake in Highbridge Capital Management. Other investment banks have either purchased similar interests or are negotiating for such purchases. Dwight Anderson, who runs Ospraie, said Lehman would provide his firm with marketing, technology and product development and other services.<\/p>\n
Industry analysts believe the Lehman\/ Ospraie deal is complimentary, and such alliance will enable Ospraie to launch additional hedge funds which have been in demand by investors in Lehman Brothers Firm. Lehman will also offer its vast network and distribution channels as well as back office services to compliment Ospraie, Hedge Fund.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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