Man Group Continues Acquisition Spree As Stock Up 76%

The largest publicly traded hedge fund manager, the systematically-orientated Man Group PLC (LON:EMG), is purchasing a fund of funds hedge fund from Merrill Lynch Alternative Investments with the goal to expand its U.S. offerings.

Man Group's stock price up 76%

After seeing its stock price rise 76 percent after going on an acquisition spree – Man recently added more than $16 billion in assets through acquisitions of Numeric Holdings, a Boston-based quant manager, and Pine Grove Asset Management, a New Jersey-based fund-of-hedge-funds manager – the fund manager wants more.

Man Group PLC (LON:EMG)'s FRM unit, its fund of funds business sector, is acquiring the rights to manage Merrill's $1.2 billion multi-strategy investments, the London-based firm said in a statement.  Merrill...