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| Share Price: 22.16 | Bid: 22.16 | Ask: 22.44 | Change: -0.27 (-1.20%) |  | ||||||
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Swiss Re takes 15 pct stake in UK hedge fund Brevan Howard Asset
Sun, 7th Oct 2007 13:29
ZURICH (Thomson Financial) - Swiss Re has acquired a 15 pct stake in British hedge fund Brevan
The move was designed to strengthen the reinsurer's position in 'a growing and very attractive sector,' the spokesman said, without giving further details.
In a statement Friday, BH Macro Ltd, Brevan Howard's listed closed-end fund, said the stake purchase has no impact on the management of the group.
London-based Brevan Howard Asset Management handles some 14 bln usd, according to the Swiss press.
Hedge funds are private investment funds which enjoy considerable freedom from regulation and often use highly speculative means of generating profits.
They have been partially blamed for the current credit crunch stemming from the sub-prime mortgage lending crisis in the US.
andrew.ge.thompson@thomson.com
afp/at/vlb
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
ZURICH (Thomson Financial) - Swiss Re has acquired a 15 pct stake in British hedge fund Brevan
Howard Asset Management for an undisclosed sum, a Swiss Re spokesman said Saturday.
The move was designed to strengthen the reinsurer's position in 'a growing and very attractive sector,' the spokesman said, without giving further details.
In a statement Friday, BH Macro Ltd, Brevan Howard's listed closed-end fund, said the stake purchase has no impact on the management of the group.
London-based Brevan Howard Asset Management handles some 14 bln usd, according to the Swiss press.
Hedge funds are private investment funds which enjoy considerable freedom from regulation and often use highly speculative means of generating profits.
They have been partially blamed for the current credit crunch stemming from the sub-prime mortgage lending crisis in the US.
andrew.ge.thompson@thomson.com
afp/at/vlb
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Swiss Re takes 15 pct stake in UK hedge fund Brevan Howard Asset
ZURICH (Thomson Financial) - Swiss Re has acquired a 15 pct stake in British hedge fund Brevan Howard Asset Management for an undisclosed sum, a[7 Oct '07]
Swiss Re agrees to buy 15 pct stake in Brevan Howard Group UPDATE
(adds detail, background) LONDON (Thomson Financial) - BH Macro Ltd said reinsurer Swiss Re had agreed to buy a 15 pct holding in hedge fund[5 Oct '07]
Swiss Re agrees to buy 15 pct stake in Brevan Howard Group
LONDON (Thomson Financial) - BH Macro Ltd said reinsurer Swiss Re has agreed to buy a 15 pct holding in the Brevan Howard group. 'This is a[5 Oct '07]
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