Funds of Hedge Funds Mergers & Acquisitions / Joint Ventures

Cadogan Management to take over Torrey's six funds

by

Cadogan Management and Torrey Associates have inked an agreement under which Cadogan will take over the investment management duties for Torrey's six onshore and offshore funds.

Torrey International, Torrey Asia, Torrey Emerging Markets, Torrey Europe, Peabody Global and Torrey Development Funds will be managed by Cadogan at the end of the 2009. The funds within the agreement represent approximately 80% of Torrey's assets under management, which dipped below $1 billion in the last year.

Torrey's SEC-registered funds - Torrey International Strategy Partners and Torrey US Strategy Partners - were slated earlier this year to be liquidated.

The Cadogan approach