In a deal worth up to $1.32 billion, London hedge fund operator Marble Bar Asset Management LLP has been bought by Swiss private banking group EFG International.

EFG said it will initially pay $517 million in cash, plus a further $300 million to $800 million over the next six years, depending on the performance of Marble Bar's funds. Of the initial cash payment to Marble Bar partners and staff, about $400 million will be reinvested in Marble Bar funds for up to six years.

More at; HedgeCo.Net's "Hedge Fund Operator Acquired For $1.32 Billion"