Newspaper article from our research archive:

UniCredit Buys Stake in U.K. Hedge Fund

LONDON (HedgeWorld.com) - UniCredit Group, Italy's biggest bank, has bought a 5% stake in NewSmith Capital Partners LLP, a British asset manager, and will invest a substantial sum in the firm's eight long/short funds spanning equities, global macro and credit. UniCredit also has bought the firm's credit advisory business, NewSmith Financial Products.

The sale of NSFP sees the staff of 10 headed by T.J. Lim, Glenn Barnes and Kevin Krespi, all of whom joined NewSmith from the credit and derivatives operations of Merrill Lynch & Co. in 2004, move over to UniCredit. No financial details of the transactions were released.

"We think this is a positive development for the firm as it does ...

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