Mayer Brown Aids Principal Unit In Hedge Fund Manager Buy

Law360, New York (March 4, 2013, 2:53 PM EST) -- The asset management arm of the Principal Financial Group has agreed to acquire a majority stake in London and New York boutique hedge fund manager Liongate Capital Management LLP, Principal said Monday.

Principal Global Investors will acquire a 55 percent stake in Liongate from the firm's senior management, the financial services giant said. Liongate specializes in managing portfolios of hedge funds and has roughly $2.1 billion in assets.

The deal is expected to close by June 30. Financial terms of the deal were not announced, and...
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