Marshall Wace, a UK-based alternative-asset manager, has purchased 90% stake in US-based Eaglewood Capital Management.
The deal, subject to regulatory approval, comes as part of MW plans to expand its presence in peer-to-peer and online lending.
Following the deal, MW will change its name as Eaglewood Europe and Eaglewood will continue to manage a number of other operations from New York.
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As part of the deal, Eaglewood Capital will be combined with Eaglewood Europe to create a new business known as MW Eaglewood, headed by Eaglewood founder and chief Jonathan Barlow.
In addition, the new firm will have its own management, and run independently by Marshall Wace.
However, Simon Champ will become the chief executive of Eaglewood Europe and Steven Lee will be chief investment officer of MW Eaglewood.
Jonathan Barlow founder and chief executive Eaglewood said: "We are looking forward to contributing to the transformation of the sector in the US, the UK and beyond."
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By GlobalDataMarshall Wace chief executive Ian Wace said: "P2P lending has the potential to transform consumer and SME lending practices worldwide by disintermediating the banks. In so doing it can benefit the whole economy and society at large."
