Investment bank Lazard Ltd is in advanced talks to acquire hedge fund firm Brigade Capital Management, Bloomberg News reported on Monday, citing people with knowledge of the matter.
The logo and trading information for Lazard Ltd appear on a screen on the floor at the New York Stock Exchange in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid/File Photois in advanced talks to acquire hedge fund firm Brigade Capital Management, Bloomberg News reported on Monday, citing people with knowledge of the matter.
The news comes at a time when asset managers are exploring ways to bolster their profitability amid fierce competition and lower fees from the switch towards more passive investing by investors.to buy fund manager Oak Hill Advisors in a $4.2 billion cash-and-stock deal. Founded in 2006 and led by Don Morgan, Brigade Capital's deal with Lazard will add to its asset management business, the