Man Group, a UK-based hedge fund manager, has completed the acquisition of Boston-based hedge fund specialist Numeric Holdings.
The acquisition will develop a diversified, global quantitative investment platform comprising AHL and Numeric, with over US$26 billion of funds under management.
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Man Group said that its quantitative investment platform will provide clients with an extensive product range across alternative and long-only, trend following, technical and fundamental strategies.
Furthermore, the transaction will further boost Man’s footprint in North America and also improve its ability to achieve a strong risk-adjusted return on capital through an accretive transaction.
Manny Roman, CEO of Man, said: "We are delighted to announce the completion of the acquisition of Numeric, which has an impressive track record of performance, a strong US footprint and a talented management team."
Numeric is a privately-owned, Boston-based quantitative equity manager with $14.7 billion of funds under management as at 30 June 2014.
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