Mergers & Acquisitions / Joint Ventures Performance

Man buys out credit group Ore Hill, reports stable results


Fresh from selling its 25% stake in BlueCrest last week for $633 million, Man Group has announced the acquisition of the 50% stake in US-based credit manager Ore Hill that it does not already own in its strategy to focus on internal investment management opportunities.

The publicly-quoted alternative investment group has also released a pre-trading update for its financial year ending 31 March, which shows stable performance in the wake of its $1.6 billion acquisition of GLG last year – with assets under management showing a small rise since the end of December and net inflows of $700