Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Man Group buys stake in OFI’s Alts multimanager unit

Man Group buys stake in OFI’s Alts multimanager unit

French group OFI Asset Management has agreed to sell 20% of its alternative multimanagement business to Man Group which could potentially lead to the London firm taking over the whole unit.

The deal is currently awaiting French regulatory approval and would see Man Investment Holdings, an affiliate of Man Group, invest €1.6 million to acquire a 20% stake in OFI MGA which currently runs €600 million for mainly French institutional investors.

The deal allows OFI MGA to invest in Man's managed accounts platform, which currently oversees over $9 billion across 80 managers. The London-based group also has the option to acquire a majority stake in the unit over the next three years.

This is the latest development in OFI's alternative fund selection unit after the French group was fined by €300.000 by the French regulator earlier this month.

Following an investigation by the French regulator it was revealed that four funds from OFI’s alternative multi-management division were invested in Madoff vehicles.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Zurich

    Citywire Zurich

  • Citywire Deutschland

    Citywire Deutschland

  • Citywire Singapore

    Citywire Singapore

  • Citywire Maastricht 2013

    Citywire Maastricht 2013

  • Citywire Stockholm

    Citywire Stockholm

  • Citywire Montreux 2013

    Citywire Montreux 2013

  • Citywire Hong Kong

    Citywire Hong Kong

  • Citywire Zurich

    Citywire Zurich

  • Citywire Deutschland

    Citywire Deutschland

  • Citywire Monreux 2013

    Citywire Monreux 2013

  • Citywire Montreux 2013

    Citywire Montreux 2013

  • Citywire Singapore 2013

    Citywire Singapore 2013

  • Citywire Singapore 2013

    Citywire Singapore 2013