(updated with correction)
Asset Management Finance acquired a passive minority interest in London-based long/short credit manager Lucidus Capital Partners, confirmed Alistair McKay, a senior consultant with AMF.
Mr. McKay said the size of the stake is less than 20%; he said further terms wouldn't be disclosed.
Lucidus partners Darryl Green and Geoffrey Sherry have made long-term commitments to the firm and between them will continue to hold a majority stake in the firm, Mr. McKay said.
Bruce Kovner, chairman of hedge fund firm Caxton Associates, and Peter D' Angelo, Caxton president, also hold minority stakes in Lucidus, which currently has $1.8 billion in notional assets under management, according to an AMF news release.
Lucidus' executives are investing the proceeds from AMF's minority stake directly into the funds of the company, Mr. McKay said.
With its Lucidus stake, AMF has invested more than $750 million to acquire interests in 21 investment managers, with combined assets under management of more than $80 billion, according to the AMF news release. The Lucidus investment is AMF's second in Europe; AMF announced its first investment in that region in January 2010 with U.K.-based wealth adviser Towry.