TA Associates exits 10-year investment in Numeric to hedge fund Man Group


dollars10_sqUS private equity firm TA Associates has reportedly exited its long-standing investment in asset management group Numeric Holdings through a $219m sale to hedge fund manager Man Group.

TA bought into Numeric through a $240 recapitalisation in 2004, picking up interests from Numeric founding partner Strategic Investment Group and other shareholders.

The company has been up for sale since last year and TA have finally found a buyer according to Reuters, which cited Man chief executive Manny Roman.

Numeric currently manages assets of $10bn across US, Japanese, European and World equity portfolios.

It manages traditional long-only as well as market-neutral long/short partnerships.

Back in March TA sold a 10.6 per cent stake in UK mutual fund manager Jupiter for £197.2m.

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