Man Group purchases US-based equity manager Numeric for US$500 million
June 20, 2014, 12:08 am TWN
LONDON--British hedge fund manager Man Group said on Thursday that it has agreed to buy Boston-based Numeric Holdings for almost US$500 million.
Man Group said in a statement it will pay US$219 million upon completion for privately owned equity manager Numeric.
Another US$275 million is payable to management and staff five years later, depending on profitability.