{"id":42651,"date":"2014-06-19T07:35:43","date_gmt":"2014-06-19T11:35:43","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=42651"},"modified":"2014-06-19T07:41:44","modified_gmt":"2014-06-19T11:41:44","slug":"hedge-fund-giant-man-group-acquires-boston-equity-manager","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2014\/hedge-fund-giant-man-group-acquires-boston-equity-manager.html","title":{"rendered":"Hedge Fund Giant Man Group Acquires Boston Equity Manager"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/06\/images.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-42653\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/06\/images.jpg\" alt=\"images\" width=\"227\" height=\"222\" \/><\/a>New York (HedgeCo.Net) &#8211; A privately-owned, Boston-based quantitative equity manager with $14.7 billion FUM has been acquired by hedge fund giant Man Group plc for approximately $325 million.<\/p>\n<p>&#8220;We are delighted to announce the acquisition of Numeric, which has an excellent track record of performance and innovation in quantitative investing.&#8221; Manny Roman, Chief Executive Officer of Man, said in a statement today.<\/p>\n<p>&#8220;Numeric\u2019s business has seen substantial growth in recent years, with funds under management increasing from $7.6 billion at the end of 2012 to $14.7 billion as at 31 May 2014. Numeric generated EBITDA of $47 million for the year ended 31 December 2013.&#8221; The hedge fund group said.<\/p>\n<p>Man said the acquisition will help the team focus on:<\/p>\n<ul>\n<li>Creation of a diversified, global quantitative investment platform comprising AHL and Numeric, with over $25 billion of funds under management and a broad product range across alternative and long only, trend following, technical and fundamental strategies;<\/li>\n<li>Further development of Man\u2019s footprint in North America, through a recognised brand, a presence in an important investment centre and relationships with a range of institutional clients;<\/li>\n<li>Provision of investment capacity in a number of strategies with an attractive and long investment track record and therefore the potential to add incremental funds under management through combining Numeric\u2019s investment offering with Man\u2019s global distribution capability;<\/li>\n<li>Alignment of the interests of Numeric Management with those of Man\u2019s shareholders through having over 90% of the maximum aggregate consideration payable to Numeric Management being dependent on the run rate profitability of the Numeric business at the fifth anniversary of completion; and<\/li>\n<li>Opportunity to achieve a strong risk-adjusted return on capital; additionally the Acquisition is expected to be earnings accretive from completion.<\/li>\n<\/ul>\n<p>&#8220;Man stood out to us as a perfect strategic partner and today\u2019s announcement signifies the full support of Numeric\u2019s management team.&#8221;\u00a0Mike Even, Chief Executive Officer of Numeric, said, &#8220;Our key criteria from the outset was to find a new partner with a strong cultural fit who would preserve complete independence of our investment process and provide strategic support. We are excited and energized by this transaction and look forward to serving our clients with the support of Man.&#8221;<\/p>\n<p><span style=\"color: #000000;\">Alex Akesson<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Editor for\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a><span style=\"color: #000000;\">\u00a0is a premier\u00a0<\/span><a style=\"color: #ff4b33;\" title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a><span style=\"color: #000000;\">\u00a0and community for qualified and accredited investors only. Membership in\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><span style=\"color: #000000;\">\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a><span style=\"color: #000000;\">!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; A privately-owned, Boston-based quantitative equity manager with $14.7 billion FUM has been acquired by hedge fund giant Man Group plc for approximately $325 million. &#8220;We are delighted to announce the acquisition of Numeric, which has an [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16044,3],"tags":[],"class_list":["post-42651","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-strategies-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42651","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=42651"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42651\/revisions"}],"predecessor-version":[{"id":42658,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/42651\/revisions\/42658"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=42651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=42651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=42651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}