Stock Groups

Lazard in talks to buy hedge fund Brigade Capital Management: Bloomberg News -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO. A screen shows the logo and details for Lazard Ltd on the New York Stock Exchange’s floor, New York (USA), April 24, 2019. REUTERS/Brendan McDermid/File Photo

(Reuters) – Investment bank Lazard Ltd (NYSE:) Ltd has entered advanced discussions to acquire the hedge fund company Brigade Capital Management, Bloomberg News reported Monday, citing sources with knowledge about the matter.

This news is timely as asset managers look for ways to increase their profitability in fierce competition with lower fees due to passive investing.

T Rowe Price, an Asset Management firm (NASDAQ:), agreed last week to purchase Oak Hill Advisors fund manager in a cash-and stock deal worth $4.2 billion.

Brigade Capital, founded by Don Morgan in 2006, will now add to its asset-management business with Lazard, as per the report.

Both companies have yet to respond to Reuters’s request for comment.

Disclaimer Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]