22 May 2012
Clifford Chance advises Man Group on its acquisition of FRM
Leading international law firm Clifford Chance is advising Man Group plc on its purchase of the entire issued share capital of FRM Holdings Limited. FRM is a global hedge fund research and investment specialist with funds under management of approximately $8.0 billion.
Man and FRM’s combined multi-manager business will have total funds under management of approximately $19 billion, making it the largest independent non-US based fund of hedge funds. The acquisition is expected to be completed before the end of Q3 2012.
The multi-disciplinary Clifford Chance team was led by Corporate partners David Pudge and Joel Ziff assisted by senior associates Katy Foster and Dan Royle; with Gerard Saviola advising on funds, Jonathan Elman on tax, Simon Crown on regulatory, Imogen Clark on employment and Kevin Thompson on employee benefits.
Clifford Chance advised Man Group on its acquisition of hedge fund GLG Partners in 2010 and its purchase of a stake in BlueCrest, the alternative asset management group in 2003 and its disposal of that stake in 2011.