That was more than double what the seller, Harbor Group International, paid to acquire the building two years ago.
The firm will add foreign stock and bond strategies to its U.S.-based mutual-fund unit, open six more Luxembourg-based funds for offshore clients and wrest business from competitors, Niedermeyer said in an interview.
Seventy-six percent of respondents have observed an increase in investment by pension funds since 2008, while institutional investors as a whole, including funds of funds, accounted for a clear majority (57 percent) of AUM.
Indeed, based on a recent study conducted by the University of British Columbia, Queen’s University and Columbia University south of the border, hedge funds that invest in distressed U.S. companies actually have a positive influence on bankruptcy pr
Last month, Wells announced that it would buy Merlin Securities, a prime brokerage and technology provider based in San Francisco and New York.
GlobeOp Financial Services will launch an independent, asset-weighted hedge fund performance index on May 15, 2012.
The Fund is no-load and, like the other stock funds in the Baird fund family, it has an .85% management fee. The expense ratio is 1.1% for the institutional class and 1.25% for the investor class.
Revenues, excluding incentive fees, rose $4.5 million. Operating income before management fee was $31.2 million, a 30.7% increase from $23.9 million in the prior year period.