FTFM Putnam Lovell NBF Securities described 2006 as a blockbuster year for mergers and acquisitions activity in the fund management world in a report published earlier this year. Purchases of hedge funds were part of that blockbuster story.
Alternative asset managers overseeing some $175bn accounted for 59 transactions, or 31 per cent of targets, in 2006, recounted Putnam Lovell. Interest in single-manager hedge fund firms surged, followed closely by funds of hedge funds.
