Blue Sky Picks Up Hedge Fund With $70M Under Management

Law360, New York (March 21, 2014, 3:29 PM EDT) -- Australian alternative asset manager Blue Sky Alternative Investments Ltd. will snap up fellow fund manager Investment Science Asset Management Pty. Ltd., which currently has about $70 million in assets under management, according to a Friday statement.

The financial details of the transaction were not disclosed. Blue Sky, which is publicly traded on the Australian Stock Exchange, said the consideration for the acquisition is entirely Blue Sky scrip and includes upfront and deferred considerations depending on the performance of ISPL’s assets.

Picking up its fellow fund manager...
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