Michael Platt’s BlueCrest Capital Management is selling most of its stake in a computer-trading hedge fund run by former employee Leda Braga to Affiliated Managers Group Inc. Terms weren’t disclosed.
Management of Braga’s Systematica Investments will retain most of their firm’s equity and direct daily operations after the transaction, AMG said Sunday in a statement without disclosing the size of the stake. BlueCrest had a 49 percent stake, according to a person with knowledge of the matter, which means it will be left with less than 25 percent. The person asked to not be identified because the information is private. AMG’s holding will be valued at $300 million to $350 million, another person said.