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Mediobanca’s Cairn Buys Blackstone-backed Hedge Fund Bybrook

by finance.yahoo.com posted 3weeks ago 39 views
(Bloomberg) -- Mediobanca SpA’s credit fund Cairn Capital has agreed to buy Bybrook Capital, a distressed debt fund backed by Blackstone Group Inc., to expand its offering of alternative investments. The acquisition, set to complete by the end of June, will add about $2.5 billion in assets under management, taking Cairn to more than $8 billion, Chief Executive Officer Nicholas Chalmers said in a phone interview with Bloomberg. He did not disclose the value of the deal.

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