Halcyon Asset Management, which manages $11.5 billion, including $5.7 billion of hedge fund assets, plans go public by selling itself to Alternative Asset Management Acquisition Co., a special purpose acquisition vehicle (SPAC), also known as a "blank check" company.
Alternative Asset raised $414 million at $10 per share last August with the intention of buying an alternative asset management business. Halcyon was founded in 1981. The new entity will be called Halcyon Management.
The transaction values New York-based Halcyon at approximately $974 million. Under the terms of the deal, Halcyon entities will receive up to $505 million in