BoI takes over 70% of US fund-manager
20/12/2005 - 07:21:20Bank of Ireland has entered into an agreement to acquire 71.5% of Guggenheim Alternative Asset Management, a US hedge-fund manager focusing on institutional and high-net-worth clients, for an estimated $184m (€153m).
Guggenheim has about $2.8bn (€2.3bn) assets under management and is part of Guggenheim Partners, a private wealth and investment management firm.
The exact cash consideration will be determined based on Guggenheim’s business performance to April 1, 2006.
