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Richmond Park Buys Olympia Group to Add Hedge Funds

Feb. 4 (Bloomberg) -- Richmond Park Capital Holdings Ltd., a London-based investment bank and asset manager, agreed to buy Olympia Group to add $2 billion in funds of hedge funds and private client money.

Sagard Private Equity Partners, a Paris-based private equity firm started by Canada’s billionaire Desmarais family, is selling Olympia for an undisclosed amount, according to an e-mailed statement today.

Richmond Park was founded in 2009 by former Dresdner Bank AG executives Andrew Pisker and Werner Grub, and former Goldman Sachs Group Inc. banker Scott Mead.

“We are impressed with the quality of the risk management and investment process at Olympia,” Pisker said in the statement. “With the right investment in certain areas of the business, Olympia is capable of achieving its potential as a European leader.”

To contact the reporter on this story: Simon Clark in London at sclark4@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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