UBS to Sell Hedge Fund Unit O'Connor to Cantor Fitzgerald
UBS Group AG 's asset management division has signed an agreement to sell its O'Connor unit to Cantor Fitzgerald, it said in a statement on Wednesday that confirmed a Bloomberg News report from earlier this month.
Closing of the transaction for the 'single manager hedge fund, private credit and commodities platform' is expected during the fourth quarter and is subject to regulatory approvals, UBS said in the statement. The deal includes 'O'Connor's six investment strategies' with about $11 billion in assets under management.
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