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Man Group Buys Numeric Holdings For $219 Million


Man Group, a British hedge fund has agreed to buy Numeric Holdings for an initial $219 million to broaden its presence in the U.S. Numeric has $14.7 billion in assets under management, was put up for sale last year by TA Associates; a private equity firm. The deals comes just days after Man Group bought another U.S. based firm, Pine Grove Asset Management, which controls $1 billion in assets. Man Group CEO Manny Roman said, the deal pushes further two of the company’s main objectives the first being diversifying its so called quantitative  fund business and expanding its presence in the U.S.