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United States : StormHarbour set to gain 49% stake in Asset Management Firm

June 30, 2014

StormHarbour Securities, US investment bank announced that it is ready to buy a 49% stake in Asuka Asset Management Co., Japanese hedge fund manager.

As per the terms of the contract, which financial terms were not disclosed, Asuka Chief Executive Officer Mamoru Taniya would turn managing principal of StormHarbour and operate its asset management unit.

Asuka added that, contract would enable it to take benefit of StormHarbour s global network and gain access to a wide range of foreign investors.

Presently, StormHarbour hires nearly170 staff and has offices in seven cities globally.

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Source: TendersInfo (India)

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