Fund of Hedge Funds Mergers & Acquisitions / Joint Ventures

UFG deal gives small boost to funds of funds

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La Française des Placements, a small Paris-based firm, is understood to have been bought by UFG Group, which is a subsidiary of Crédit Mutuel Nord Europe. In terms of funds of hedge funds, this is likely to only represent a small boost to the fund of hedge funds assets under management of UFG Alteram, which were at $1.99 billion at 30 June 2009.

It is understood that the agreement is that UFG has a majority stake in La Française des Placements through acquisition and exchange of shares. La Française des Placements, which is run by Alain Wicker, is