Nov. 24 (Bloomberg) -- Man Group Plc, the hedge fund manager that's buying Refco Inc.'s main futures assets, agreed to sell the bankrupt broker's European assets to Marathon Asset Management in New York because of an overlap with its own business.
Marathon, a hedge fund manager, is buying futures, foreign- exchange and other brokerage assets from Man Group's Man Financial, including about 2,000 customer accounts, Marathon said in an e- mailed statement today. The businesses employ 300 people, the statement said. The companies didn't disclose a price for the deal.
``Man took this decision because of the high level of client overlap with its own London operation,'' Man Financial said in a separate statement today.
Has anyone heard of Marathon?
Marathon, a hedge fund manager, is buying futures, foreign- exchange and other brokerage assets from Man Group's Man Financial, including about 2,000 customer accounts, Marathon said in an e- mailed statement today. The businesses employ 300 people, the statement said. The companies didn't disclose a price for the deal.
``Man took this decision because of the high level of client overlap with its own London operation,'' Man Financial said in a separate statement today.
Has anyone heard of Marathon?
