Old Mutual PLC's 2100 Capital of Boston announced Friday that it has acquired a controlling interest in the New York hedge fund specialist Larch Lane Advisors LP.
The 12-year-old Larch Lane, which manages $700 million of assets, invests in hedge funds and provides capital to early-stage hedge fund managers.
It will maintain its investment operations in Purchase, N.Y., with support from 2100 Capital's quantitative investment research team, compliance and risk management systems, and technology infrastructure, the acquirer said.
Old Mutual Asset Management, the U.S. asset management business of Old Mutual PLC, will provide additional operational resources and investment capital to support the development of Larch Lane's businesses, 2100 Capital said.
As of Sept. 30, Old Mutual Asset Management managed $223 billion of assets.
