Flurry of deals as big asset managers target stakes in hedge funds

Sale sign
Established hedge funds selling minority stakes

An increasing number of established hedge funds are selling minority stakes to private equity groups and larger investment houses. These deals allow managers to finance infrastructure upgrades, tap wider distribution networks and increase the size of their funds, while retaining control over investment operations.

The end of 2012 and beginning of 2013 have seen a flurry of such deals. The most aggressive acquirer has been Dyal Capital Partners, a $1.28 billion private equity fund managed by

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