Market volatility and flailing credit and equity markets are making it difficult for hedge funds to post gains. But that hasnt stopped a number of alternative investment firms, eyeing a value play, from buying stakes in hedge funds.
Man Investments announced Monday that it was acquiring 50% of U.S.-based credit shop Ore Hill Partners. At the same time, Ore Hill will take a 50% stake in a Man subsidiary European credit manager Pemba Credit Advisers.
Ore Hill Fund (offshore) is struggling to post gains this year, having lost 5.72% for the year through February following returns of only 2.67%