Man Group is in talks to acquire Numeric Holdings, in a deal that would boost the hedge fund’s quantitative business and its presence in the U.S.
Man Group said Thursday in a statement that it is “in discussions concerning the possible acquisition of Numeric Holdings LLC. These discussions are ongoing and may or may not lead to a transaction.”
A spokeswoman for the $55 billion hedge fund declined to comment.
Numeric is a Boston-based quant firm, with $13.9 billion in assets under management.
Any deal would complement the Man Group’s existing quant business, AHL, which the firm acquired in 1994. It also established the Oxford-Man Institute of Quantitative Finance, a research collaboration with the University of Oxford.
The London-based Man Group acquired GLG Partners in 2010 and Financial Risk Management in 2012.