Details emerge on Ritchie’s deal with Reservoir

Tue May 29, 2007

Dan Stern’s Reservoir Capital Group will pay a base purchase price of $278.4 million to acquire roughly half of the assets in the troubled Ritchie Multi-Strategy Fund. This is but one of many details to emerge since the deal was announced in late April.

According to an information memorandum recently circulated to investors, Reservoir Capital will pay half of the base price, or $139.2 million, on the deal’s close, presumably for distribution to meet ongoing redemptions. The remaining balance will be paid over three and a half years following the deal’s close.

Ritchie has sold to Reservoir substantially all the assets in the Ritchie Multi-Strategy Fund except...

ISSN: 2151-1845 / CDC10004H

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates

Popular Searches on HFI