Hedge fund manager Greg Coffey in talks to acquire EM boutique Emso

Greg Coffey, the Australian hedge fund star once nicknamed the “Wizard of Oz”, is in talks to acquire emerging market investor Emso in a deal that would create a $13bn firm. Kirkoswald, the firm Coffey started in 2018 after coming out of retirement and which now manages $8bn, is in talks to buy London-based Emso, according to people familiar with the matter. A fixed income specialist, Emso runs about $5bn in assets across emerging markets.

Coffey’s run of stellar returns in the years before the global financial crisis and subsequent struggle before he founded Kirkoswald epitomises how rapidly fortunes can change in the hedge fund industry. He built his reputation and fortune at hedge fund manager GLG Partners, now part of UK-listed asset manager Man Group, and outperformed both financial markets and rival hedge funds in the 2005-2007 bull market.

Source: News Formal (newsformal.com)

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