Hedge Fund Chief Paul Marshall Buys Spectator for £100 Million

Hedge fund manager Paul Marshall agreed to pay £100 million ($131 million) for the Spectator, a politically influential British magazine that’s known to exert a big sway over the Conservative Party.

The billionaire chairman and founding partner of Marshall Wace LLP emerged as the winner in the race for ownership of the weekly, which was hived off in an ongoing bidding process for the right-leaning Telegraph Media Group.

“The acquisition will provide The Spectator with access to the investment, expertise and facilities to grow,” according to a statement on Tuesday from Old Queen Street Ventures Ltd., the media company owned ...