Wells Fargo Eyes Alternative Assets In Rock Creek Buy

Law360, New York (December 18, 2012, 2:51 PM EST) -- Wells Fargo Bank NA has scooped up a minority interest in fund-of-hedge-funds manager Rock Creek Group LP, extending its reach into increasingly popular alternative assets and beefing up its asset management division, the U.S. banking giant said Tuesday.

Financial terms of the deal were not disclosed, and it was unclear how big a stake Wells Fargo bought. The bulk of Rock Creek will continue to be controlled by the firm's management team and its employees, but Wells Fargo could bite off more of the company over...
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