UBS Launches New Hedge Fund Advisory Group

by Carla Johnson, Investors Offshore.com

20 July 2005

Swiss investment bank UBS has established a new advisory group aimed at hedge funds, which will focus primarily on hedge funds' increasing interest in company mergers and acquisitions.

The new group, to be known as the Alternative Capital Group, is a joint venture between UBS's equity and investment banking departments and will provide corporate finance coverage for hedge funds.

Hedge funds have played a major role in some high profile M&A situations in recent months, including Deutsche Boerse's attempted takeover of the London Stock Exchange, and US sports tycoon Malcolm Glazer's successful acquisition of English soccer club Manchester United.

Warren Woo, the bank's global head of financial sponsors based in the United States, is to head a new advisory group while Suzie MacCagnan, European head of global private placement at UBS and Richard Royden, a managing director in the equities hedge fund group, will run the new business in Europe, according to Reuters.

MacCagnan noted that: "A focused effort on this class of capital will ensure that the right opportunities are channelled to the appropriate investors."

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