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Rating:Price Tag for a Recent Fund Deal Comes to Light Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, March 26, 2009

Price Tag for a Recent Fund Deal Comes to Light

Reported by Armie Margaret Lee

Hennessy Advisors paid $1.83 million to acquire two funds from Voyageur Asset Management. The deal, first announced in December, closed on Monday (see The MFWire, 03/23/09).

According to an SEC filing on Thursday, Novato, California-based Hennessy made an initial cash payment of $798,000 -- or 0.75 percent of assets as of March 20 -- for the Tamarack Value Fund. The deal also calls for additional contingent cash payment of up to 0.75 percent to be paid six months after the closing.

Hennessy paid $1.04 million -- or 2 percent assets -- for the Tamarack Large Cap Growth Fund

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