Man is led by chief executive Manny Roman and manages $55 billion in assets
Jamie Dunkley29 May 2014
Hedge fund Man Group today revealed it is in talks to buy US asset manager Numeric Holdings as it continues to overhaul its structure following a torrid few years.
Boston-based Numeric manages almost $14 billion (£8.4 billion), meaning a deal would significantly boost Man Group’s presence in the world’s largest economy.
It would also reduce its reliance on its flagship AHL fund, which, like Numeric, uses quantitative analysis to make investments.
Man is led by chief executive Manny Roman and manages $55 billion in assets.
This month it posted its third consecutive quarter of net inflows for the first time in six years after years of underperformance under previous boss Peter Clarke, who led a deal to buy GLG for $1.6 billion in 2010.
