Mizuho Corporate Bank has agreed to acquire 95 per cent of the shares of Eurekahedge.
Upon the closing of the proposed transaction, Eurekahedge will become a subsidiary of MHCB. The founder of Eurekahedge and the current chief executive officer will together retain the remaining 5 per cent of the ordinary shares of Eurekahedge and will continue to participate in its management.
By maintaining management continuity, MHCB intends for Eurekahedge to continue to offer its existing services to its current customers.
Eurekahedge was established in 2001 as an independent data provider and research house and maintains and develops a database on alternative investment funds such as hedge funds and private equity funds. With a database containing information on over 20,000 funds, Eurekahedge is one of the industry’s leading companies, whose strength is in coverage of global alternative funds. In addition, Eurekahedge has developed and provides information through its “Eurekahedge Fund Indices”, which has gained global recognition as a benchmark index in the hedge fund industry.
In October 2010, MHCB established Mizuho Global Alternative Investments (“MGAI”) as a wholly owned subsidiary, to select and provide alternative investment hedge fund products for mainly Japanese institutional clients including corporate pension funds and financial institutions. MGAI and Eurekahedge previously entered into a business alliance agreement and are strengthening their collaborative efforts through joint projects such as the launch of the Japanese version MGAI-EH Newsletter, an analytical report on the hedge fund industry that MGAI issues in collaboration with Eurekahedge.
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