Man Group Acquires 50% of credit specialist Ore Hill Partners
|March 31st, 2008||
|Man Group plc announced today that it has entered into an agreement to acquire 50% of credit-focused hedge fund manager Ore Hill Partners LLC. As part of the transaction, Ore Hill will acquire 50% of Pemba Credit Advisers, a subsidiary of Man Group, to create a global credit business.|
Ore Hill was founded in 2002 by Benjamin Nickoll and Frederick Wahl. Mr. Nickoll was formerly an advisor to Midway Capital Partners and Co-Head of Morgan Stanley’s high yield trading group. The firm manages series of hedge funds including the Ore Hill Fund LP, Ore Hill International Ltd and Ore Hill Hub Fund Ltd.
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