U.S. hedge fund, Caxton Associates, has bought a stake in a London hedge fund, Wadhwani Asset Management (WAM), for an undisclosed sum, Financial Times reports. WAM, with assets in excess of $1 billion, will oversee a new account to handle allocation from Caxton’s $7 billion portfolio. The transaction will see WAM’s founder, Sushil Wadhwani, become a partner in Caxton. Wadhwani previously served as director of equity strategy at Goldman Sachs and a partner in the U.K. arm of Tudor.
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