Mergers & Acquisitions / Joint Ventures

BlueCrest buys back 25% Man Group stake for $633 million

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BlueCrest Capital Management, the $25 billion multi-strategy hedge fund group led by Mike Platt, is buying back the 25.5% stake in the business that has been owned by Man Group since 2003 for a total consideration of $633 million.

The transaction will return BlueCrest to full working partner ownership and deliver a profit for the Man Group on disposal of $250 million, representing a hugely successful investment for the publicly-quoted Man.