Pine Grove Asset Management Bought by Man Group

June 9, 2014 Marcus Black In the News

Pine Grove Asset Management, a New Jersey-based fund of funds, was acquired by Man Group, the world’s largest publicly traded hedge fund. PGAM is an investment firm that has about $1 billion under management and was founded in 1994. PGAM charges their investors fees to pick credit hedge funds.

CEO of Man Group Emmanuel Roman has been on the look-out for purchases to help expand their US business. The US is the largest market for hedge funds and asset managers.

Man’s President Luke Ellis said:

“FRM’s longstanding strategy has been to help investors use hedge funds to achieve their investment goals. Pine Grove has a long and accomplished track record of outperformance and is an excellent addition to the FRM business.”

Emmanuel Roman, Luke Ellis, Man Group, PGAM,

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