NEW YORK and SAN FRANCISCO, /PRNewswire/
Capital Z Investment Partners, LLC today announced the completion of a management buyout of its hedge fund sponsorship business in partnership with Paine & Partners, LLC, the San Francisco and New York-based private equity firm. As part of this transaction, Capital Z’s hedge fund management team and Paine & Partners will purchase the minority ownership hedge fund management company and general partnership interests held by the limited partners in two of Capital Z’s alternative investment sponsorship funds. As a result of this transaction, a new alternative asset management business, Capital Z Asset Management, will be established to continue and expand the hedge fund sponsorship activities that Capital Z began in 1998. Terms of the transaction were not disclosed.