AMG Buys Minority Stake in Multistrategy Hedge Fund Verition (1)

Affiliated Managers Group Inc. is acquiring a minority stake in multistrategy investment firm Verition Fund Management, snapping up a piece of one of the fastest-growing hedge funds in the $4.5 trillion industry.

The two companies have entered into a definitive agreement for the deal, according to a statement seen by Bloomberg News. Verition’s management, led by co-founders Nicholas Maounis and Josh Goldstein, will continue to lead the firm and make a significant additional investment in its hedge fund.

The deal is expected to close in the second quarter of this year. Financial details weren’t disclosed in the statement. ...