Mizuho Financial Group is acquiring Singapore-based hedge fund research firm, Eurekahedge, for about $25 million, Reuters reports. Mizuho is buying the stake through its core banking unit, Mizuho Corporate Bank (MHCB).
The move follows a deal signed between Eurekahedge and Mizuho Global Alternative Investments, an MHCB subsidiary established in October 2010, adds Fundamentals. Eurekahedge will become a unit of MHCB, with its founders and CEO retaining the remaining 5% of Eurekahedge stock and continuing to manage the firm.
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