Man Group To Drop Up To $144M On FRM Holdings

Law360, Chicago (May 21, 2012, 2:22 PM EDT) -- British investment management firm Man Group PLC has agreed to buy hedge fund investment firm FRM Holdings Ltd. for up to $143.6 million including performance fees, creating what the buyer said Monday will be the largest independent fund of hedge funds based outside the U.S.

Man will not pay anything upfront under the terms of the deal and will instead pay up to $82.8 million in cash over three years depending on the asset retention of FRM, which had about $8 billion in funds under management...
To view the full article, register now.