MJX Asset Management has announced an agreement to buy Barclays' U.S. asset management business.
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The company said last Wednesday that it will acquire Barclays' Venture CDO 2002 and Venture II CDO 2002 funds. Hans Christensen and Martin Davey, who have managed the funds for Barclays since they were started, have entered into long-term employment contracts with MJX to continue managing the portfolios.
The deal is expected to close in the fourth quarter. Its terms were not disclosed.
MJX is a newly formed investment manager that is owned by affiliates of Robert F.X. Sillerman and members of the funds' existing management team. Before joining Barclays, Mr. Christensen and his team were part of Citigroup's alternative investment strategies group.
