{"id":43711,"date":"2014-08-25T08:22:03","date_gmt":"2014-08-25T12:22:03","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=43711"},"modified":"2014-08-25T08:28:51","modified_gmt":"2014-08-25T12:28:51","slug":"man-group-expands-us-hedge-fund-business-with-acquisition-of-pine-grove","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2014\/man-group-expands-us-hedge-fund-business-with-acquisition-of-pine-grove.html","title":{"rendered":"Man Group Expands US Hedge Fund Business With Acquisition Of Pine Grove"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/06\/man_1949532b.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-42508\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/06\/man_1949532b.jpg\" alt=\"man_1949532b\" width=\"319\" height=\"384\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2014\/06\/man_1949532b.jpg 319w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2014\/06\/man_1949532b-249x300.jpg 249w\" sizes=\"auto, (max-width: 319px) 100vw, 319px\" \/><\/a>New York (HedgeCo.Net) &#8211; Man Group plc has acquired US-based fund of hedge fund manager Pine Grove Asset Management LLC., which has approximately $1.0 billion in assets under management.<\/p>\n<p>The transaction enhances Man Group\u2019s presence in the US and adds to Man Group\u2019s fund of hedge funds business, FRM. Pine Grove will also reinforce FRM\u2019s efforts to offer clients a wide variety of investment opportunities including SEC-registered US 40 Act funds and complementary fund of hedge fund products, the company said in a press release.<\/p>\n<p>Pine Grove is a credit-focused fund of hedge fund manager, founded in 1994. Since inception, the firm\u2019s hedge fund selections and portfolio management have delivered attractive risk-adjusted returns across market cycles. Approximately two thirds of Pine Grove\u2019s assets are from institutional investors, primarily US-based, with the remaining third from US high net worth individuals and family offices.<\/p>\n<p>As a result of the transaction close, Matthew Stadtmauer, formerly President of Pine Grove has become President of FRM. Tom Williams, Pine Grove\u2019s Chief Investment Officer will continue to be responsible for all investment decisions relating to Pine Grove\u2019s portfolios and will join FRM\u2019s Investment Executive committee.<\/p>\n<p><span style=\"color: #000000;\">Editing by Alex Akesson<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">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: #743399;\" 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; Man Group plc has acquired US-based fund of hedge fund manager Pine Grove Asset Management LLC., which has approximately $1.0 billion in assets under management. The transaction enhances Man Group\u2019s presence in the US and adds [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-43711","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43711","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=43711"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43711\/revisions"}],"predecessor-version":[{"id":43716,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43711\/revisions\/43716"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=43711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=43711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=43711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}