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Tuesday, November 10, 2015

Hatteras Is Breaking Free

Reported by Neil Anderson, Managing Editor

Hatteras Funds is breaking free.

David Perkins
Hatteras Funds
Chief Executive Officer
Today Hatteras [profile] CEO David Perkins revealed that management at the 12-year-old, Raleigh, North Carolina-based alternative mutual fund shop has signed a letter of intent to buy Hatteras back from beleaguered RCS Capital Corporation. RCS bought Hatteras on June 30, 2014.

"We are excited to reestablish Hatteras as a 100 percent employee-owned firm," Perkins states.

The deal is slated to close early next year.

The Hatteras deal comes just as a deal with Apollo Global Management involving another RCS affiliate, AR Capital, is falling through. And Apollo is now paying a substantially reduced price for RCS Capital's wholesale distribution business. 

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