Cantor Fitzgerald is set to acquire UBS's O’Connor alternatives investment platform, which manages $11 billion in assets. Following the acquisition, O’Connor's investment and support teams will transition to Cantor Fitzgerald.
This divestiture is part of UBS's strategy to streamline its operations and focus on core businesses. The O'Connor unit, founded by UBS veteran Bill Ferri, will return to his purview at Cantor Fitzgerald.
The sale impacts UBS's asset management division, allowing it to reallocate resources and capital. This move aligns with the bank's broader efforts to optimize its portfolio and enhance efficiency post-Credit Suisse acquisition.
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