Business Services Industry
Massive acquisition shifts global alternative investment market.
Australasian Business Intelligence, May, 2002
May 27, 2002 (The Australian Financial Markets Newsletter
ABIX via COMTEX) -- A major acquisition, announced in late May 2002, will have a significant impact on the global alternative investment market. Man Group has bought RFM Investment Group for a cash-and-scrip consideration totalling $US833 million. The merged entity will have around $US20 billion of funds under management. RMF is involved in an alliance partnership with Australia's Absolute Capital. Deon Joubert, managing director of Absolute, says that there will be little change in the way Absolute operates in the next two to three years. Joubert believes that the merger will have a positive impact on the alternative investment market by raising its credibility.
Publication Date: 24 May 2002...
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