Morgan Stanley recently announced that it had bought parts of hedge fund managers Avenue Capital Group and Lansdowne Partners, and all of FrontPoint Partners. Fortis Investments is the latest to join the M&A train, taking a 70% stake in fund of hedge funds Cadogan Partners.
“Lots of conversations started in 2005 and this year, and there are tremendous negotiations going on right now [regarding acquisitions of hedge funds and funds of hedge funds],” says Gooden. In 2005, there were four acquisitions of hedge funds, and this year to date there have already been 13 according to Berkshire Capital’s research.
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