Mergers & Acquisitions / Joint Ventures

Crestline eyes Lyster Watson FoHF assets

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Crestline Investors is all about looking for value in distressed opportunities in the hedge fund space. Indeed, it even has an investment fund to capitalise on them. But as part of its opportunistic growth plan, the Forth Worth, Texas-based firm is set to buy the residual funds of funds assets of Lyster Watson, as the New York-based firm pulls out of the multi-manager industry in favour of single-manager selection and proprietary replication models.

Lyster Watson, founded by Robert Watson and Robert Lyster in 1992, has three lines of business including the True Alpha Trackers-based replication business, the funds