Cantor Fitzgerald Agrees to Buy UBS Hedge Fund Unit O’Connor

Cantor Fitzgerald LP agreed to buy UBS Group AG’s O’Connor unit, ending more than three decades of ownership by the Swiss bank and placing the hedge fund back in control of one of its early founders.

The deal includes O’Connor’s six investment strategies with about $11 billion in assets under management, according to a statement Wednesday. Additional terms of the agreement weren’t disclosed, but Bloomberg News has previously reported that the talks included a revenue-sharing proposal.

The sale will bring the hedge fund, private credit and commodities businesses under the leadership of Bill Ferri, Cantor’s asset-management chief and ...