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Partners Group sells hedge fund unit
 
  Hedgeweb - TUE, APR 13 2010
Funds & Investment Partners Group Holding AG (PGHN.EB) Monday said it has sold its hedge-fund managed-accounts business to Sciens Capital Management, completing the Swiss asset manager's move out of hedge funds.

The two companies said in a statement that Sciens Capital will buy the hedge fund platform in a cash and earn-out transaction. Financial details of the transaction were not disclosed.

Partners Group said transferring the platform represents less than 1% of assets under management, currently around CHF25bn. The platform has between $600m and $700m under management, across roughly 50 hedge fund strategies.

 
 
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