(Reuters) - BOSTON, June 26 - Asset manager BlackRock
on Tuesday said it will pay $1.7 billion to buy the fund of
funds business from Quellos Group LLC at a time when more
clients want to invest in loosely regulated hedge-fund
portfolios.
New York-based BlackRock, which manages $1.2 trillion, said
it will pay $562 million in cash and $188 million in stock.
Quellos may also receive an additional $970 million in cash and
stock over 3 1/2 years.
Read more at Reuters.com Bonds News
on Tuesday said it will pay $1.7 billion to buy the fund of
funds business from Quellos Group LLC at a time when more
clients want to invest in loosely regulated hedge-fund
portfolios.
New York-based BlackRock, which manages $1.2 trillion, said
it will pay $562 million in cash and $188 million in stock.
Quellos may also receive an additional $970 million in cash and
stock over 3 1/2 years.
Read more at Reuters.com Bonds News
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