Swiss private bank EFG International has acquired UK hedge fund group Marble Bar Asset Management. MBAM, which was set up in 2002, has $4.4 billion in institutional and ultra-high-net-worth assets under management. It specializes in long/short equity strategies.
It is the second acquisition for the private bank of an alternatives house. In February 2006, EFG International acquired CM Advisors, a fund of hedge funds business. Total client assets relating to hedge funds will now be about SFr15 billion ($13 billion) and 18% of total revenue-generating client assets.
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