GREENWICH, Conn. (HedgeWorld.com)–Private equity firm Muirhead Holdings LLC has acquired Van Hedge Funds LLC, a US$600 million hedge fund manager and financial data provider based in Greenwich, Conn. and Nashville, Tenn. The transaction is effective immediately, and terms were not disclosed.
Muirhead plans to rebrand the company as Greenwich-Van, while continuing to operate it from its current offices. Thomas Whelan, chief executive of Van, will continue in his position and George Farr, chairman of Muirhead Holdings, will step into the chairman position at Van as well.
George Van, founder of the eponymous hedge fund firm and its former chairman, departs the company and will form two new companies, a capital introduction company and a company to provide strategic advice to multinational companies interested in moving into hedge funds. The capital introduction business will be known as George Van & Company LLC, while the strategic advice company will be called Strategic Services LLC.
“The company’s foundations rest solidly on the investment advisory, hedge fund index and capital introduction business,” said Mr. Whelan in a statement. “George Van and I believe that these lines of business are best grown separately.”
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