Hedge Funds

EFG International, the Swiss private bank behind one of last year's largest fund of hedge fund flotations, has bought a US alternative investment manager with $2.5bn (€1.9bn) of assets under management.

EFG said it had acquired PRS Group from its main founders, chairman Rodriguez-Fraile and president John Sullivan. The terms of the transaction were not disclosed.

William Hutchings

EFG International

London Stock Exchange

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EFG buys second hedge fund in a year

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