Nexar Capital Group will acquire fund of funds business, Ermitage, from Caledonia Investments, Bloomberg reports. The financial details of the deal have not been disclosed.
The combined entity will have $3.7 billion of assets under management. Nexar was founded by the former global head of hedge funds at Societe Generale’s alternative asset-management unit, Arie Assayag, along with Eric Attias and Bernard Kalfon.
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