Deals
AMG Buys Minority Stake in Multistrategy Hedge Fund Verition
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Affiliated Managers Group Inc. is acquiring a minority stake in multistrategy investment firm Verition Fund Management, snapping up a piece of one of the fastest-growing hedge funds in the $4.5 trillion industry.
The two companies have entered into a definitive agreement for the deal, according to a statement seen by Bloomberg News. Verition’s management, led by co-founders Nicholas Maounis and Josh Goldstein, will continue to lead the firm and make a significant additional investment in its hedge fund.